Activist investor Starboard Value LP asked TriQuint Semiconductor Inc to consider selling or restructuring its mobile power amplifier business, which it said was a drag on the radio frequency chipmaker's share price.TriQuint shares, which have halved in value since touching a 10-year high of $14.88 in 2011, rose as much as 7 percent on Tuesday after the investor's comments.Starboard, which owns an 8 percent stake in TriQuint, said the company should focus on its networks and defense businesses and become a fabless chipmaker like rival Skyworks Solutions Inc .Fabless chipmakers, such as Skyworks and Avago Technologies Ltd, outsource most their manufacturing to foundries around the world.
Skyworks Solutions, Inc. (Skyworks) offers analog and mixed signal semiconductors. Shares of SWKS traded higher by 1.09% or $0.265/share to $24.50. In the past year, the shares have traded as low as $19.21 and as high as $29.74. On average, 3055410 shares of SWKS exchange hands on a given day and today's volume is recorded at 1077584.
TriQuint Semiconductor, Inc. provides a portfolio of radio frequency (RF) solutions. Shares of TQNT traded higher by 5.03% or $0.369/share to $7.71. 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 3352797.
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