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UPDATE: D.A. Davidson Terminates Coverage On TriQuint Semiconductor Following Merger With RF Micro Devices

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In a report published Thursday, D.A. Davidson analyst Thomas Diffely terminated coverage on TriQuint Semiconductor (NASDAQ: TQNT).

In the report, D.A. Davidson noted, “On December 31st, RF Micro Devices completed the merger with TriQuint. After RFMD and TQNT announced a definitive agreement to merge last February 22nd, RFMD created a holding company (later named Rocky Holding, Inc.) that would house RFMD and TQNT as wholly-owned subsidiaries post-merger. RFMD shareholders were scheduled to receive one share of the holding company for every share of RFMD, and TQNT shareholders were scheduled to receive 1.675 shares for every share of TQNT; providing roughly 50% ownership of Rocky Holding for each shareholder base. In September, Rocky Holding was renamed Qorvo (QRVO* - NEUTRAL - $66.65) and in the following months, both shareholder bases approved the merger, Qorvo did a 1:4 reverse stock split, and the deal closed on December 31st. As a result of the acquisition, TQNT shares ceased trading after the market close on December 31st; therefore we are discontinuing coverage of TQNT effective immediately. All estimates, price targets and rating, as shown, are from the most recent report published on December 15, 2014, and are now being vacated.”.

TriQuint Semiconductor closed on 12/31/2014 at $27.55.

Latest Ratings for TQNT

DateFirmActionFromTo
Dec 2014DowngradesBuyHold
Dec 2014UpgradesNeutralBuy
Dec 2014MaintainsEqual-Weight

View More Analyst Ratings for TQNT
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Posted-In: D.A. Davidson Thomas DiffelyAnalyst Color Termination Analyst Ratings

 

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