UPDATE: Cantor Fitzgerald Initiates ANADIGICS at Hold

Cantor Fitzgerald is out with its report today on ANADIGICS ANAD, initiating ANAD at Hold. In a note to clients, Cantor Fitzgerald writes, "ANADIGICS has been a leading supplier of power amplifiers for the mobile device market for over 15 years. However, we estimate that the company has lost market share in the mobile device market over the past couple of years, falling from 5.4% in 2008 to 2.4% in 2011. We are initiating coverage with a HOLD rating and a $3.75 target price." At the time of posting, shares of ANAD were trading pre-market at $3.32, up 6.75% from Monday's close.