Merrill on TQNT, ATML
Monday, December 04, 2000
--11:30 am - By Michael Baron
TriQuint Semiconductor (TQNT: news, msgs) is advancing $4.56, or 12.8 percent, to $39.94, while Atmel (ATML: news, msgs) is slipping 12 cents, or 1.2 percent, to $10. The companies were the subject of a research note by Merrill Lynch this morning, which said signs of life in the wireless sector are a bullish indicator for both stocks. Merrill told clients that recent channel checks in the wireless market support its belief that the overall market has bottomed. "Specifically, we believe the areas of strength so far are: Nokia's (NOK: news, msgs) overall business, Motorola's (MOT: news, msgs) CDMA cell phones and T900 products and an incremental pick-up in the Korean cell phone market," Merrill told clients. "We believe this news is positive for TriQuint and Atmel and both companies have experienced a pick up in order rates from the wireless sector this quarter." The firm reiterated its ratings and price targets on both stocks. |
