TriQuint breaks out of multi-year range after results beat expectations The shares are up over 16% after the company turned in better than expected results for the quarter and raised its outlook sharply for the full year. At the current price of $7.90, the stock is now above the bulk of the highs of the last 2 years. This sort of range break after consistently hitting resistance forming a rectangular top is typically long-term bullish. The bulk of the range in the last two years has topped out at $7. Next resistance is at $8.27, a pivot high from 2011. Support is at $7.42.
RF Micro Devices price target raised to $20 from $15 at Pacific Crest Pacific Crest increased its price target on RF Micro Devices (RFMD) after the company announced that it had received all necessary regulatory approvals to merge with TriQuint (TQNT) and is prepared to do so on December 31. Consequently, the firm had been concerned that China would delay the merger or impose conditions on it. Pacific Crest expects the combined company to achieve $150M in annualized cost savings sooner than it had previously expected. It keeps an Outperform rating on RF Micro.
RF Micro Devices and TriQuint recommended at Craig-Hallum Craig-Hallum recommends RF Micro Devices (RFMD) and TriQuint (TQNT) and believes the combined company will imply EPS in the $1.40 range. The analyst said the RF Semi space has some of the best growth in tech and reiterates its Buy ratings for both companies.