Today’s stock pick of the day is TriQuint Semiconductor Inc (TQNT) TriQuint has been up 9.92% over the past month and is up 67.49% YTD. This stock still has plenty of upside, with projected next quarter earnings looking to $0.12 a share and a revenue set to increase almost 6% quarter over quarter. TQNT is looking to return to solid profitability in 2014. Look for this to take off with the increase in demand for mobile devices.
TQNT is sitting at a solid support level now at a little shy of $8.00. I expect no resistance until about $9.00 per share, then again at $9.50
TriQuint is a supplier of chips for radiofrequency solutions both active and passive. They have done quite well over the course of the mobile revolution. As more and more mobile/wireless devices come to the market, TQNT is posed to do even better. They also have some clients out of what people think of as the mobile space, they also make devices for satellite comminications, electronic warfare and navigation for military applications.
Disclaimer: I currently do not hold the above mentioned investment. I may be looking to add to a position in the above mentioned investment, within the next 30 days. I am not looking to take a short position in the above mentioned investment within the next 30 days.