UPDATE: Cantor Fitzgerald Initiates Triquint Semiconductor at Buy

Cantor Fitzgerald is out with its report today on Triquint Semiconductor (NASDAQ: TQNT), initiating TQNT at Buy.

In a note to clients, Cantor Fitzgerald writes, "TriQuint is one of the most technologically diverse suppliers of RF components in the world. It derives approximately 70% of its revenues from the mobile device market, and we estimate the company has a 15% worldwide market share. We are initiating coverage with a BUY recommendation and an $18 target price."

Shares of TQNT closed Monday at $11.89.