NEW YORK (TheStreet) -- TriQuint Semiconductor (TQNT) was gaining 2.4% to $18.59 Tuesday after announcing it's the first gallium nitride (GaN) RF chip manufacturer to reach Manufacturing Readiness Level (MRL) 9.
Reaching MRL 9 means TriQuint's GaN manufacturing processes "have met full performance, cost, and capacity goals," and that it is capable of supporting full rate production, the company said in a press release. TriQuint used the U.S. Air Force Research Laboratory's manufacturing readiness assessment tools and criteria to benchmark the achievement.
By developing GaN-based devices TriQuint is able to produce smaller, more efficient power amplifiers for use in military radar, electronic warfare programs, and commercial wireless communications.
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TheStreet Ratings team rates TRIQUINT SEMICONDUCTOR INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate TRIQUINT SEMICONDUCTOR INC (TQNT) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we find that the company's return on equity has been disappointing."