TriQuint Semiconductor Trading 4.7% Higher Following Analyst Upgrade (TQNT)
TriQuint Semiconductor (NASDAQ:TQNT) shares rose 4.7% during trading on Wednesday after Canaccord Genuity raised their price target on the stock from $8.00 to $13.00, Analyst RN reports. The company traded as high as $12.07 and last traded at $12.04, with a volume of 6,841,867 shares trading hands. The stock had previously closed at $11.50.
Several other analysts have also recently commented on the stock. 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 investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. TriQuint Semiconductor currently has a consensus rating of “Hold” and a consensus price target of $11.27.
In other TriQuint Semiconductor news, VP Todd Debonis unloaded 30,000 shares of the company’s stock on the open market in a transaction dated Monday, February 24th. The stock was sold at an average price of $11.36, for a total transaction of $340,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
The stock has a 50-day moving average of $8.81 and a 200-day moving average of $8.16. The company’s market cap is $1.990 billion.
TriQuint Semiconductor (NASDAQ:TQNT) last released its earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.04 earnings per share. TriQuint Semiconductor’s revenue was up 14.6% compared to the same quarter last year. Analysts expect that TriQuint Semiconductor will post $0.45 EPS 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.