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TQNT

TriQuint Semiconductor, Inc.

5/24/2013, 2:24 AM ET

Quote & Headlines Market Currents StockTalk

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Wednesday, May 15, 11:00 AM TriQuint (TQNT +2.7%) announces a $75M stock buyback program; it's good for repurchasing 7.6% of shares at current levels. The news is helping the RF component maker hit new 52-week highs; shares are still well below late 2010/early 2011 levels. (Starboard Value stake) Comment! [Tech, On the Move]
Monday, April 29, 5:50 PM TriQuint (TQNT) +3.1% AH after activist investor Starboard Value discloses a 7.82% stake in the RF component maker. TriQuint has been losing share in recent years (sales fell 15% Y/Y in Q1, though they're expected to grow 6% in Q2), and has been struggling to turn a profit, something that generally hasn't been a problem for rivals Skyworks and RF Micro. Shares rallied last week thanks to better-than-feared Q2 guidance. (13D) Comment! [Tech, On the Move]
Thursday, April 25, 12:18 PM Low expectations are aiding iPhone supplier TriQuint (TQNT +10.7%), which is surging after missing Q1 estimates and guiding for Q2 revenue of $185M-$190M and EPS of -$0.10 to -$0.12, below a consensus of $194.8M and -$0.08. On its earnings call, TriQuint noted mobile sales (57% of total) fell 30% Q/Q thanks to "seasonally low demand from our largest customer" (almost certainly Apple), but added sales to all other top-5 mobile clients grew, and claimed strong demand for advanced 4G power amplifiers and filters. Possibly up in sympathy: SWKS +2.7%. RFMD +1.6%. CRUS +3%.10.1% of TriQuint's float was shorted as of March 28. Comment! [Tech, Earnings, On the Move]
Wednesday, April 24, 4:04 PM TriQuint Semiconductor (TQNT): Q1 EPS of -$0.17 misses by $0.04. Revenue of $184.2M misses by $2.2M. (PR) Comment! [Earnings, Breaking News, Tech]
Wednesday, April 24, 1:31 PM Samsung's (SSNLF.PK) Galaxy S IV is a superb phone, if one can cope with a cheap plastic feel and too many gimmicks. That seems to be the consensus from the first full reviews. The Verge praises the S IV's display, camera, and performance, but still considers the HTC One a better bet. "The Galaxy S4 is fast and impressive, but it's also noisy and complex." TechCrunch and Gizmodo deliver similar takes. But others (I, II) make the case that more is ultimately better (this mindset has worked for Samsung thus far). The reviews arrive as Sprint and T-Mobile state their S IV launches will be delayed due to inventory issues. Key suppliers: QCOM, BRCM, SYNA, PANL, ATML, RFMD, TQNT. (previous) 23 Comments [Tech]
Wednesday, April 24, 12:10 AM Notable earnings after Wednesday’s close: AFL, AIZ, AKAM, ANGI, ARII, ARRS, ASGN, AVG, BAS, BDN, CAKE, CCI, CDNS, CLF, CLGX, CMO, CMRE, COG, CROX, CTXS, DRE, DRWI, EFX, EQIX, FFIV, FIO, FLS, GGG, INFN, ISIL, ITMN, JAH, KEX, LOGI, LPS, LRCX, LSI, MLNX, NEU, NOW, OIS, ORLY, OTEX, PDH, PMTC, QCOM, RJF, RYL, SCI, SKX, SRCL, SUSQ, SYK, TAL, TER, TEX, TQNT, TSCO, TWI, VAR, WCN, WDC, WLL, XLNX, XNPT, ZNGA 1 Comment [Earnings]
Tuesday, April 23, 5:35 PM Notable earnings after Wednesday’s close: AFL, AIZ, AKAM, ANGI, ARII, ARRS, ASGN, AVG, BAS, BDN, CAKE, CCI, CDNS, CLF, CLGX, CMO, CMRE, COG, CROX, CTXS, DRE, DRWI, EFX, EQIX, FFIV, FIO, FLS, GGG, INFN, ISIL, ITMN, JAH, KEX, LOGI, LPS, LRCX, LSI, MLNX, NEU, NOW, OIS, ORLY, OTEX, PDH, PMTC, QCOM, RJF, RYL, SCI, SKX, SRCL, SUSQ, SYK, TAL, TER, TEX, TQNT, TSCO, TWI, VAR, WCN, WDC, WLL, XLNX, XNPT, ZNGA Comment! [Earnings]
Friday, March 15, 1:38 PM A Chinese site has already torn down a local version of Samsung's Galaxy S IV. Discovered parts include a Qualcomm (QCOM) 3G baseband chip, an Intel (INTC) baseband chip and RF transceiver, TriQuint (TQNT) and Skyworks (SWKS) power amplifiers, Synaptics (SYNA) and Atmel (ATML) controllers, and a Broadcom (BRCM) GPS receiver. A Qualcomm baseband/app processor is expected in the U.S. version. RBC thinks thinks 70M S IV units could be sold this year, and sees Broadcom (NFC chip and a combo chip with high-speed Wi-Fi to go with the GPS chip) and Maxim (MXIM - power management and infrared chips) benefiting. 4 Comments [Tech]
Wednesday, March 6, 9:40 AM More on Apple: Berenberg's Adnaan Ahmad has downgraded shares to Sell from Buy, while also cutting his rating on Samsung (SSNLF.PK). With smartphone growth now fueled by emerging markets, "Apple and Samsung margins are peaking and growth is going to be driven by the margin-dilutive mid-to-low-end segment," he argues. Also, Citi has cut its PT to $480, citing weaker iPhone 5 and regular iPad demand. Citi, which cut Apple to Neutral in December, now expects March and June quarter iPhone sales of 34M and 25M, below a consensus of 37M and 32M. AAPL -0.2%. 23 Comments [Tech]
Wednesday, March 6, 9:13 AM Foxconn has begun production of an iPhone 5S (AAPL) that looks much like the iPhone 5, claims Japanese blog MacOtakara, which has a mixed track record (I, II) with iScoops. MacOtakara also reports NTT DoCoMo (DCM) has slashed Android phone orders for the fall, which is fueling speculation an iPhone deal is on the way. Jefferies' Peter Misek argued last month preparation for March iPhone 5S production could be responsible for new iPhone order cuts. Possible/likely suppliers: CRUS, OVTI, SWKS, TQNT, AVGO, QCOM, BRCM, NTE, MFLX, LPL. (yesterday) 29 Comments [Tech]
Friday, March 1, 10:40 AM Apple (AAPL -1.8%) and its suppliers slump after iPhone/iPad image sensor provider OmniVision (OVTI -10.9%) issues light guidance to go with its FQ3 beat. CRUS -4.2%. SWKS -1.9%. TQNT -1.7%. AVGO -2%. RFMD -3.2%. BRCM -1.6%. On its FQ3 call, OmniVision would only attribute the guidance to "a seasonal trend of business," while adding smartphone market share trends are "highly, highly volatile right now." Like virtually all other Apple suppliers, OmniVision never mentions Apple by name. 21 Comments [Tech, On the Move, Earnings]
Thursday, February 21, 5:37 PM Don't sell Avago (AVGO -2.9%) on account of Qualcomm's (QCOM) new RF front end, says RBC's Doug Freedman. Avago's chips rely on FBAR filters, a market where it has an estimated ~70% share - TriQuint (TQNT -5.5%) is also mentioned as a BAW provider. Qualcomm's solution uses SAW filters, making them complementary, he argues. Discussing the solution, a Qualcomm exec touts its potential to handle any 4G band. Analyst Michael Thelander calls this a "huge business opportunity," but cautions some carriers/OEMs might not be keen on a phone supporting every band. Comment! [Tech]
Thursday, February 21, 1:13 PM More on Raymond James' downgrade of Skyworks (SWKS -12.6%), TriQuint (TQNT -7.3%), and RF Micro (RFMD -14.6%): Analyst Tavis McCourt calls Qualcomm's (QCOM -1.1%) RF front end announcement a "bombshell," given the mobile chip giant's track record. However, he grants Qualcomm's entry into new markets is often met with "modest success" at first. He thinks the solution, which Qualcomm claims offers superior integration and lower design times, is aimed at China. OEM products containing it are due in 2H. ANAD -8.1%. AVGO -2.5%. 1 Comment [Tech, On the Move]
Thursday, February 21, 10:07 AM RF chipmakers Skyworks (SWKS -8.5%), TriQuint (TQNT -4%), and RF Micro (RFMD -12%) dive following downgrades from Raymond James. Also possibly hurting is Qualcomm's (QCOM -0.7%) introduction of a new RF front-end solution that features 3D packaging, covers 2G/3G/4G air interfaces, and includes a chip containing a CMOS (bulk silicon) power amplifier and antenna switch - many rival solutions use more exotic materials. Avago (AVGO -4.2%) and Anadigics (ANAD -5.4%) are also lower. 1 Comment [Tech]
Wednesday, February 20, 2:55 PM H-P (HPQ -1%), rather than Apple (AAPL -1.9%), might be to blame for Foxconn's hiring freeze, thinks UBS' Steve Milunovich. Milunovich, among the first to report of a major drop in iPhone build rates for the March quarter (a report vindicated by Apple's FQ2 guidance) says his sources indicate nothing has changed. Meanwhile, Jefferies' Peter Misek (previous) claims FQ2 iPhone build orders have fallen to just 20M-25M, but believes 5S builds will start in March. CRUS -5.1%. SWKS -2.3%. TQNT -2.6%. BRCM -1.6%. OVTI -3.1%. Update: H-P states its PC ops don't rely on the Shenzhen, China facility that has seen a hiring freeze. 11 Comments [Tech, On the Move]
Thursday, February 7, 12:13 PM TriQuint (TQNT -10.9%) has almost entirely given back its November-January gains after providing weak Q1 guidance to go with a Q4 beat. Management noted on the earnings call chip sales for 3G/4G phones, mobile base stations, and radar equipment are growing quickly, but added declining 2G sales are a headwind, and that low factory utilization is hurting profitability. Sales to mobile OEMs are expected to see "strong seasonality" in Q1, but management talked up the 2013 impact of 2012 mobile R&D investments. SWKS -1.9%. AVGO -1.9%. ANAD -3.8%. Comment! [Tech, On the Move, Earnings]

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