The stock was last quoted at $5.94, down 17.2%, on after-hours volume of 1.7 million, according to Nasdaq.com.
Hillsboro, Ore.-based TriQuint, which makes radio frequency-based wireless communications chips, said it expects non-GAAP earnings of 6 to 8 cents a share in the fiscal fourth quarter ending in December on revenue of between $215 million and $225 million. The company sees gross margins coming in at 32-34% due to "lower factory utilization as we burn through excess inventory and weak product mix."
The current average estimate of analysts polled by Thomson Reuters is for TriQuint to report earnings of 14 cents a share in the December-ending period on revenue of $230.7 million.TriQuint's third-quarter profit came in at 11 cents a share on revenue of $216 million, beating Wall Street's profit view by a penny. Based on Wednesday's regular session close at $7.17, TriQuint shares were down more than 40% year-to-date, although they had bounced more than 50% since hitting a 52-week low of $4.66 on Oct. 4. Wall Street was bearish on TriQuint ahead of the report with 8 of the 11 analysts covering the stock at either hold (7) or undeperform (1).
Akamai TechnologiesShares of Akamai Technologies (AKAM) surged in extended action after the company delivered a slightly better than expected quarterly performance. The Cambridge, Mass.-based Web content delivery technology company posted a normalized profit of $63.4 million, or 34 cents a share, for the three months ended Sept. 30 on revenue of $281.9 million, up 10% from last year and 2% on a sequential basis. The average estimate of analysts polled by Thomson Reuters was for earnings of 33 cents a share in the fiscal third quarter on revenue of $278.9 million. The stock was last quoted at $26.74, up 12.5%, on volume of 1.1 million, according to Nasdaq.com.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV