Cantor Fitzgerald Downgrades TriQuint Semiconductor (TQNT) to Hold; 2Q11: Disappointing Outlook

Cantor Fitzgerald downgraded TriQuint Semiconductor (NASDAQ: TQNT) to Hold, price target lowered to $8.00.

Cantor analyst says, "TriQuint reported a 2Q revenue miss while guiding 3Q significantly below consensus...The company expects a return to strong sequential growth in 4Q:11. However, we find the fourth quarter is often seasonally challenging as mobile device manufacturers adjust build schedules rapidly based on holiday demand. Furthermore, outside of Apple (NASDAQ: AAPL)(NotCovered), we are now concerned that it will take longer to win back some customers than we originally thought...We recommend that investors move to the sidelines to see how 2012 develops while anticipating a better entry point."

For more ratings news on TriQuint Semiconductor click here and for the rating history of TriQuint Semiconductor click here.

Shares of TriQuint Semiconductor closed at $10.21 yesterday.

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