Let’s talk about TriQuint Semiconductor (TQNT).

This week, the stock is trading at a new 52-week high, on very convincing volume. The company focuses on amplifiers, frequency converters and optical components. This puts it in a sweet spot of several different industries.

58% of its revenue comes from mobile, 29% comes from network infrastructure and 13% from defense and aerospace. It’s a radio frequency, remember “RF” -- that’s the big deal these days. They are using the cellular-base stations and satellites, optical networks and radar systems. Execution has been phenomenal. Management has been beating the Street the last 3 quarters, every time by huge margins.

The Street has reacted with higher consensus going into the rest of this year, and also next fiscal year. I still, though, think they’re too conservative. In the meantime, as I said, the stock is breaking out closing above $17.70, my next target would be $20. Note, the stock used to change hands at $60 back in 2000! It’s finally living up to the hype.

Investors with patience I think could really do very, very well in this. The company is merging with RF Micro Devices (RFMD), so that deal should be done by the end of the year. Together, it would make a huge juggernaut.

DISCLOSURES

TriQuint Semiconductor (TQNT)

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