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Why TriQuint Semiconductor (TQNT) Could Be Positioned for a Surge?

Zacks Equity Research

TriQuint Semiconductor, Inc. (TQNT) is a radio frequency solutions provider that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on TQNT’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that TriQuint Semiconductor could be a solid choice for investors.

Current Quarter Estimates for TQNT

In the past 30 days, 2 estimates have gone higher for TriQuint Semiconductor while none moved lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 17 cents a share 30 days ago, to 20 cents today, a move of 17.7%.

Current Year Estimates for TQNT

Meanwhile, TriQuint Semiconductor’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 36 cents per share 30 days ago to 51 cents per share today, an increase of 41.7%.

Bottom Line

The stock has also started to move higher lately, adding 63.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future.

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