TriQuint Semiconductor Shares Down 2% Following Insider Selling (TQNT)
TriQuint Semiconductor (NASDAQ:TQNT)’s share price traded down 2% during mid-day trading on Tuesday following insider selling activity, AnalystRatingsNetwork reports. The company traded as low as $18.67 and last traded at $18.88, with a volume of 1,114,086 shares traded. The stock had previously closed at $19.27.
Specifically, Director Steven Sharp sold 10,000 shares of the stock on the open market in a transaction dated Friday, August 22nd. The shares were sold at an average price of $19.50, for a total value of $195,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of research firms have recently commented on TQNT. Analysts at Zacks upgraded shares of TriQuint Semiconductor from a “neutral” rating to an “outperform” rating in a research note on Thursday, July 31st. They now have a $23.00 price target on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of TriQuint Semiconductor from $15.00 to $20.00 in a research note on Friday, July 25th. They now have a “hold” rating on the stock. Finally, analysts at Brean Capital raised their price target on shares of TriQuint Semiconductor from $20.00 to $23.50 in a research note on Friday, July 25th. They now have a “buy” rating on the stock. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. TriQuint Semiconductor presently has a consensus rating of “Hold” and a consensus target price of $90.18.
The stock has a 50-day moving average of $17.87 and a 200-day moving average of $14.8. The company’s market cap is $3.305 billion.
TriQuint Semiconductor (NASDAQ:TQNT) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.06. The company had revenue of $230.80 million for the quarter, compared to the consensus estimate of $218.61 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. On average, analysts predict that TriQuint Semiconductor will post $0.65 earnings per share for the current fiscal year.
TriQuint Semiconductor, Inc provides a portfolio of radio frequency (NASDAQ:TQNT) solutions.
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