Piper Jaffray upgraded TriQuint Semiconductor (TQNT) to outperform from market perform, citing improved near term visibility, the strong global handset market, and improving trends in broadband.
Analyst Amit Kapur is also encouraged by further signs of an improving pricing environment for component vendors. He believes continued improvement in the industry's pricing environment could positively impact supply agreement renegotiations with some customers heading into 2007. He tweaks his 18 cents 2006 earnings per share (EPS) estimate to 19 cents and his 30 cents 2007 estimate to 34 cents. His $6 target moves to $7.