Starboard Urges TriQuint To Explore Ways To Create Value For Shareholders

(RTTNews) - Starboard Value LP sent a letter to the chief executive officer and Board of Directors of TriQuint Semiconductor Inc. (TQNT) outlining the significant opportunities for value creation at the company.

Starboard believed that the current market price of TriQuint does not fully reflect the value of the company's businesses, in large part due to the continued underperformance of its Mobile Power Amplifier or PA business.

Starboard, together with its affiliates currently owns approximately 8% of the outstanding common stock of TriQuint, urged TriQuint to explore ways to create value for shareholders, including restructuring of the Mobile PA Business.

Starboard seeks to immediately begin discussions with the board regarding board composition and alternatives to unlock shareholder value.

Starboard also highlighted in the letter about strong profitability and growth of the company's Networks & Defense and Bulk Acoustic Wave or BAW Filter Businesses, which together may be worth far more than where the company currently trades.