TriQuint makes radio-frequency products for communications devices, and has at least two microprocessors in the iPhone 4S, according to an iFixit teardown of the device.
In a recent research report, Craig Hallum's Anthony Stoss reiterated his buy rating and $8 price target on TriQuint, as he believes TriQuint is likely to benefit from the upcoming version of the iPhone. "Apple comprised 35% of TQNT's total 3Q11 revenue and ~50% of its Mobile revenue. Like we noted above, we think design-in chatter starting this month could provide a catalyst for shares," Stoss wrote in his research report.TriQuint has been a strong performer since 2012 started, gaining 23%, far outpacing the broader Nasdaq. TriQuint is set to report earnings on Feb. 8 for the quarter ending in December. Wall Street analysts polled by Thomson Reuters expect earnings of 7 cents per share and $219.1 million in revenue.