TriQuint -2.8% AH due to light Q3 revenue outlook; RF Micro -0.9%


TriQuint (NASDAQ:TQNT) expects Q3 revenue of $255M-$265M and EPS of $0.23-$0.25 vs. a consensus of $277.9M and $0.24.

However, the RF component maker still expects 2H14 revenue of $550M-$600M. With a Q2 beat in tow, that implies full-year revenue of $958M-$1.008B vs. a $968.6M consensus.

Q2 gross margin was 41.7%, up from 35.3% in Q1 and 31.3% a year ago, and soundly above guidance of 37%-38%. GM is expected to rise to 43%-45% in Q3, and full-year GM is now expected to top 40%.

TriQuint says it's seeing strong demand both for 4G base station chips and premium RF filters for smartphones. 50 customers bought premium filters in Q2, and total discrete filter revenue is expected to more than double in 2014.

RF Micro (NASDAQ:RFMD), whose all-stock merger with TriQuint is set to close later this year, is ticking lower ahead of tomorrow's FQ1 report. Both RF Micro and TriQuint sold off today as part of a broader chip stock rout.

Q2 results, PR

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