Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of TriQuint Semiconductor (NASDAQ:TQNT) have risen 16% today after the company beat analyst estimates on both top and bottom lines after yesterday's close. The company's forward guidance also cheered investors by coming in well ahead of the Street's consensus.
So what: TriQuint's second quarter ended with $190.1 million in revenue and a $0.07 loss per share. Both numbers beat the Street, which was looking for $188 million in revenue and a $0.11 loss per share. Perhaps more importantly, TriQuint's third-quarter guidance now looks unexpectedly positive, with a revenue range of $245 million to $255 million soundly besting the $228.4 million consensus, and an EPS range of $0.09 to $0.11 tripling Wall Street's $0.03 expectation even on the low end. The company's full-year guidance now comes in with EPS of $0.05, which is much better than the $0.10 loss per share that analysts had projected
Now what: TriQuint has had real difficulty pushing its revenue and earnings higher over the past few years, and EPS is well below what it was two years ago. However, the possibility of returning to that level presents investors with a possible double or near-double from here. It's certainly worth doing a little more digging to discern whether TriQuint's story is worth telling, or if this plot twist should be left on the cutting room floor.
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Fool contributor Alex Planes has no position in any stocks mentioned. The Motley Fool owns shares of TriQuint Semiconductor. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.