Kaufman Bros. Reiterates a 'Buy' on TriQuint Semiconductor (TQNT); Raising Estimates on Increasing Apple (AAPL) Expectations

Kaufman Bros. reiterates a 'Buy' on TriQuint Semiconductor (NASDAQ: TQNT), raises price target from $6.50 to $8.00.

Kaufman analyst says, "Raising Estimates on Increasing Apple (Nasdaq: AAPL) expectations: As a result of the 3GS continuing to ship plus the initial reads into 4S demand from pre-orders, we are raising our estimates for 4Q11 and 2012...4Q11: Raising revenue and non-GAAP EPS to $232MM/$0.15 from $227MM/$0.14 (the Street is currently at $229MM/$0.14)...2012: Raising revenue and non-GAAP EPS to $980MM/$0.56 from $955MM/$0.50 (the Street is currently at $968MM/$0.56)."

"While both RF Micro (Nasdaq: RFMD) and Skyworks (Nasdaq: SWKS) appear to be on more positive near-term trajectories, we believe TQNT's position with AAPL and QUALCOMM (Nasdaq: QCOM) with little to no exposure to Nokia (NYSE: NOK) and RIM (Nasdaq: RIMM) should help the stock to maintain a peer or higher multiple after a couple quarters of solid execution (meeting or beating estimates)."

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 $7.19 yesterday.

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