Activist investment fund Starboard Value is challenging TriQuint Semiconductor's business strategy and nominating its own candidates for the Hillsboro company's board.
“We have serious concerns with TriQuint’s prolonged underperformance under the direction of the current management team and Board,” Starboard chief executive Jeffrey Smith wrote to the company this morning. His firm holds 7.9 percent of TriQuint’s stock.
Though Starboard has already made waves at TriQuint, today’s letter may be largely about positioning. TriQuint hasn’t scheduled its 2014 shareholder meeting yet; last year it was in May.
Read more at OregonLive.com.