Equity Insights May 16th: Acxiom, Altera, TriQuint, Tumi, Coach May 16th
Acxiom Corporation (NASDAQ:ACXM): After Acxiom reported stronger than expected Q4 results, BMO Capital believes that the company is beginning to head in the right direction. The firm expects the company’s revenue to increase throughout FY13 and it maintains an Outperform rating.
Altera Corp. (NASDAQ:ALTR): After meeting with management, Jefferies notes that Altera (NASDAQ:ALTR) did not expect a recovery in its telecom business when issuing Q2 guidance. Jefferies thinks this segment could provide upside in Q2 after hearing of improving order trends from wireless infrastructure end markets. Further, Jefferies believes Altera’s share loss over the past year to Xilinx (NASDAQ:XLNX) could see some mean reversion by the end of the year. The firm said it is a buyer of Altera shares.
TriQuint Semiconductor, Inc. (NASDAQ:TQNT): Barclays said TriQuint’s (NASDAQ:TQNT) and Avago’s (NASDAQ:AVGO) settlement of their Bulk Acoustic Wave dispute is a positive for both. The firm views it as the best possible outcome for TriQuint given a modest royalty payment, reduced litigation fees, and removes a major overhang. Shares are Equal Weight with a $5 price target.
Tumi Holdings Inc (NYSE:TUMI): Jefferies views Tumi’s Q1 results as solid and says the company’s outlook for 2012 is in-line with expectations and leaves room for upside. The firm believes the risk/reward on shares of Tumi is very attractive at current levels and reiterates a Buy rating on the name.
Coach Inc. (NYSE:COH): Barclays continues to expect Coach to accelerate comps in Q4 and notes its limited exposure to Europe. Shares are Overweight rated with a $90 price target.
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