Kaufman Bros. Upgrades TriQuint Semiconductor (TQNT) to Buy Based on Recent Sell-Off and Outlook

Kaufman Bros. upgraded TriQuint Semiconductor (NASDAQ: TQNT) from Hold to Buy with a price target of $9.00.

Kaufman analyst says, "TQNT's stock is down 31% from a week ago and 51% off the highs in February. While TQNT has missed expectations two quarters in a row, we are more comfortable now with near term estimates (3Q11/4Q11 Street estimates are roughly in line with our estimates), and while we are lower than the Street for 2012 we believe the low valuation of the shares reflects investor concerns over the company's direction."

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 $7.32 yesterday.

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