Activist investor Starboard Value LP asked TriQuint Semiconductor Inc to consider selling or restructuring its mobile power amplifier business, which it says is dragging down the radio frequency chipmaker's share price. TriQuint shares were up nearly 4 percent on the Nasdaq on Tuesday morning."We have communicated our desire to immediately begin conversations with TriQuint's board regarding both strategy and board composition," Starboard's managing member Jeffrey Smith wrote in a letter to TriQuint Chief Executive Ralph Quinsey. ()Starboard said it owned about 8 percent of the company's shares, making it one of TriQuint's largest shareholders.TriQuint's stock was up at $7.61.
TriQuint Semiconductor, Inc. provides a portfolio of radio frequency (RF) solutions. Shares of TQNT traded higher by 4.21% or $0.309/share to $7.65. In the past year, the shares have traded as low as $4.30 and as high as $8.29. On average, 1969790 shares of TQNT exchange hands on a given day and today's volume is recorded at 490496.
Tuesday Morning Corporation is a closeout retailer of upscale decorative home accessories, housewares, and famous-maker gifts in the United States. Shares of TUES traded higher by 0.35% or $0.05/share to $14.34. In the past year, the shares have traded as low as $4.82 and as high as $14.39. On average, 348100 shares of TUES exchange hands on a given day and today's volume is recorded at 2349.
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