Why TriQuint Semiconductor (TQNT) Stock Is Gaining Today

NEW YORK (TheStreet) -- TriQuint Semiconductor (TQNT) was gaining 5% to $20.38 on Friday following Avago Technologies' (AVGO) fiscal third quarter results.

For the third quarter Avago reported earnings of $1.26 a share, beating the Thomson Reuters consensus estimate of $1.01 a share. The chipmaker reported revenue of $1.39 billion for the quarter, beating analysts' estimates of $1.35 billion.

Avago also received a price target increase from Credit Suisse (CS) . The positive quarter and price target increase helped boost the stocks of TriQuint and other competitors including RF Micro Devices (RFMD) and Skyworks Solutions (SWKS) .

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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."

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Triquint Semiconductor (TQNT): Today's Weak On High Volume Stock