Barclays Maintains an 'Overweight' on TriQuint Semiconductor (TQNT); Reset as Expected Yet Magnitude a Little Larger and Apple (AAPL) Questions Linger

Barclays maintains an 'Overweight' on TriQuint Semiconductor (NASDAQ: TQNT) price target lowered from $15 to $12.

Barclays analyst says, "TriQuint reported mixed June results (revenue below yet EPS in line) with September guidance well below expectations. Coming into the call, we highlighted a likely revenue miss due to Apple (Nasdaq: AAPL), however, TriQuint did not provide any indication on the call of a content loss - extending the debate...Our CY11 revenue and EPS move to $937M and $0.70 (from $1011M and $0.85 prior) and CY12 to $1057M and $0.70 (from $1172M and $1.00 prior)."

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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