Needham & Company Maintains a 'Buy' on TriQuint Semiconductor (TQNT); Mixed Results and Guidance; Expect Revenue Recovery
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Price: $27.55 --0%
Rating Summary:
6 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on TriQuint Semiconductor (NASDAQ: TQNT) price target lowered from $8 to $6.
Analyst, N. Quinn Bolton, said, "In 1Q12, TriQuint reported results in-line with guidance and better than normal seasonality. 2Q should see a significant decrease in mobile device sales, particularly from Foxconn, but we believe this is a temporary decline, and expect revenues to normalize in 3Q. Cellular revenue apart from Foxconn saw 8% sequential growth in 1Q12, and TQNT is gaining traction with its MMPA, transmit modules, and Duo products. With TQNT below tangible book value, we maintain our rating but lower our 12-month PT."
Needham slashes FY12 EPS estimate from $0.33 to (0.10) and FY13 from $0.60 to $0.20.
For an analyst ratings summary and ratings history on TriQuint Semiconductor click here. For more ratings news on TriQuint Semiconductor click here.
Shares of TriQuint Semiconductor closed at $5.52 yesterday.
Analyst, N. Quinn Bolton, said, "In 1Q12, TriQuint reported results in-line with guidance and better than normal seasonality. 2Q should see a significant decrease in mobile device sales, particularly from Foxconn, but we believe this is a temporary decline, and expect revenues to normalize in 3Q. Cellular revenue apart from Foxconn saw 8% sequential growth in 1Q12, and TQNT is gaining traction with its MMPA, transmit modules, and Duo products. With TQNT below tangible book value, we maintain our rating but lower our 12-month PT."
Needham slashes FY12 EPS estimate from $0.33 to (0.10) and FY13 from $0.60 to $0.20.
For an analyst ratings summary and ratings history on TriQuint Semiconductor click here. For more ratings news on TriQuint Semiconductor click here.
Shares of TriQuint Semiconductor closed at $5.52 yesterday.
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