Kaufman Bros. Maintains a 'Buy' on TriQuint Semiconductor; Apple 4S Not Enough to Revive TQNT

Kaufman Bros. maintains a 'Buy' on TriQuint Semiconductor (NASDAQ: TQNT) price target from $8 to $7.

Kaufman analyst says, "While missing 4Q11 top-line estimates is disappointing, we note that expected 4Q11 revenue growth is in line with peers (flattish to up range), and better than some of the other Analog or Comm IC names we follow, which are forecasting 4Q11 revenue declines in the high-single digit range Q/Q. On the EPS side, TQNT is guiding EPS in the range of $0.06-$0.08 vs. the Street currently at $0.14 and our previous estimate of $0.15 due to a lower gross margin outlook in 4Q11. While we expect TQNT shares to trade down tomorrow morning on these results, we are maintaining our BUY rating while lowering our target to $7 (from $8). That said, we view TQNT as a longer term BUY as the company is essentially putting meaningful sequential revenue growth on hold until mid-2012."

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 $7.17 yesterday.

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