Stephen Rosenman
Long/short equity, deep value, special situations

TriQuint Semiconductor: 50% Share Appreciation On Revenue Acceleration

No one expected TriQuint Semiconductor (TQNT), provider of RF solutions to smartphones, networks, and military applications, to report a blow-out quarter - least of all me. I'd been planning on writing a very negative piece on this $1.2 billion market cap iPhone and Galaxy S component supplier. After all, sales and earnings had been lackluster quarter after quarter. As recently as June, even management called business "disappointing." Yet, last quarter earnings, revenue and outlook all exceeded the analysts' wildest expectations. By signaling extraordinary visibility ahead - and giving this take-your-breath-away guidance - I am happily changing the slant of the article. TriQuint is a buy, even up 60% YTD. It is my contention the stock has another 50%...

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