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Technology Stocks : Triquint Semiconductor (TQNT)

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From: Savant10/30/2013 2:55:49 AM
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Starboard Delivers Letter to TriQuint CEO and Board of Directors
Outlines the Significant Opportunities for Value Creation at TriQuint Highlights Strong Profitability and Growth of TriQuint's Networks & Defense and BAW Filter Businesses, Which Together May Be Worth Far More Than Where the Company Currently Trades Cites TriQuint's Underperforming, Underutilized Mobile Power Amplifier (PA) Business and its Excessive Operating Expenses as Primary Reasons TriQuint's Performance Has Significantly Lagged Peers Urges TriQuint to Explore Ways to Create Value for Shareholders, Including Restructuring of the Mobile PA Business Seeks to Immediately Begin Discussions with the Board Regarding Board Composition and Alternatives to Unlock Shareholder Value

NEW YORK, Oct. 29, 2013 /PRNewswire/ -- Starboard Value LP (together with its affiliates, "Starboard"), owning securities representing beneficial ownership of approximately 8% of the outstanding common stock of TriQuint Semiconductor, Inc. ("TriQuint" or the "Company") (NASDAQ: TQNT), today announced that it has delivered a letter to the Company's CEO, Ralph G. Quinsey, and the Company's Board of Directors.

The full text of the letter is available for viewing at the following link:

About Starboard Value LP

Starboard Value LP is a New York-based investment adviser with a focused and differentiated fundamental approach to investing in publicly traded U.S. small cap companies. Starboard invests in deeply undervalued small cap companies and actively engages with management teams and boards of directors to identify and execute on opportunities to unlock value for the benefit of all shareholders.

Investor contacts:

Peter Feld, (212) 201-4878

Gavin Molinelli, (212) 201-4828

SOURCE Starboard Value LP

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