TriQuint Semiconductor (Nasdaq: TQNT) will split its stock in two months.
After market close Thursday, the maker of integrated circuits for communications said its board approved a 2-for-1 stock split, payable July 11 for shareholders of June 19 record. The company expects to have about 77 million shares outstanding after the split.
Thursday's announcement heralds the company's third stock split since going public in December 1993, and its second one this year. TriQuint executed a 2-for-1 split in February.
Shares of TriQuint have been rising over the last few weeks since TriQuint announced first quarter earnings of $10.8 million, or 25 cents per share, on revenue of $59.3 million.
The stock rose to 91 63/128 in afterhours activity on the Island communications network. TriQuint closed Thursday's regular trading at 90 7/16, up 8 1/8 for the session.
Competitors of TriQuint include Motorola (NYSE: MOT), Vitesse Semiconductor (Nasdaq: VTSS) and Anadigics (Nasdaq: ANAD).>