TriQuint Semiconductor Sees Strong Trading Volume on Analyst Upgrade (TQNT)
TriQuint Semiconductor (NASDAQ:TQNT) saw strong trading volume on Tuesday after Canaccord Genuity raised their price target on the stock from $8.00 to $13.00, American Banking and Market News reports. 12,705,689 shares traded hands during mid-day trading, an increase of 107% from the previous session’s volume of 6,136,531 shares.The stock last traded at $11.39 and had previously closed at $11.64.
A number of other firms have also recently commented on TQNT. Analysts at Needham & Company raised their price target on shares of TriQuint Semiconductor from $10.00 to $13.40 in a research note on Tuesday. They now have a “positive” rating on the stock. Separately, analysts at Brean Capital upgraded shares of TriQuint Semiconductor from a “hold” rating to a “buy” rating in a research note on Tuesday. They now have a $16.00 price target on the stock. Finally, analysts at DA Davidson downgraded shares of TriQuint Semiconductor from a “buy” rating to a “neutral” rating in a research note on Monday. They now have a $12.00 price target on the stock, up previously from $10.00. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. TriQuint Semiconductor presently has an average rating of “Hold” and a consensus target price of $11.27.
In other TriQuint Semiconductor news, VP Todd Debonis unloaded 30,000 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $11.36, for a total value of $340,800.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
The stock’s 50-day moving average is $8. and its 200-day moving average is $8.14. The company’s market cap is $1.883 billion.
TriQuint Semiconductor (NASDAQ:TQNT) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03. The company had revenue of $267.70 million for the quarter, compared to the consensus estimate of $265.93 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, analysts predict that TriQuint Semiconductor will post $0.45 earnings per share for the current fiscal year.
TriQuint Semiconductor, Inc provides a portfolio of radio frequency (NASDAQ:TQNT) solutions.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.