UBS Maintains a 'Neutral' on TriQuint Semiconductor (TQNT); Soft 3Q Guidance Clouds Near to Mid Term Outlook
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Price: $27.55 --0%
Rating Summary:
6 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
6 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UBS maintains a 'Neutral' on TriQuint Semiconductor (NASDAQ: TQNT) price target lowered from $11 to $9.
UBS analyst says, "Soft outlook raises question about TQNT’s key customers - TQNT’s outlook of flat 3Q revenue vs. 12% growth for SWKS and 6% for RFMD raises questions about its share going forward with key customers, including Apple. At this time, we believe that soft guidance is attributable to share loss as customers transition to other suppliers due to supply constrains, a trend which could accelerate going forward. While the company has issued upbeat outlook for 4Q with >10% Q/Q growth, we believe that visibility in 4Q is limited, and risk to share at Apple (Nasdaq: AAPL)�cannot be completely ruled out."
"For 3Q, we now forecast Rev/EPS(pf) of $226m/15c, down from 256m/22c. For 2011, we lower Rev/EPS(pf) to 923m/67c, from $989m/80c, and for 2012 to $1,017m/75c, from $1,157m/92c."
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.
UBS analyst says, "Soft outlook raises question about TQNT’s key customers - TQNT’s outlook of flat 3Q revenue vs. 12% growth for SWKS and 6% for RFMD raises questions about its share going forward with key customers, including Apple. At this time, we believe that soft guidance is attributable to share loss as customers transition to other suppliers due to supply constrains, a trend which could accelerate going forward. While the company has issued upbeat outlook for 4Q with >10% Q/Q growth, we believe that visibility in 4Q is limited, and risk to share at Apple (Nasdaq: AAPL)�cannot be completely ruled out."
"For 3Q, we now forecast Rev/EPS(pf) of $226m/15c, down from 256m/22c. For 2011, we lower Rev/EPS(pf) to 923m/67c, from $989m/80c, and for 2012 to $1,017m/75c, from $1,157m/92c."
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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