Dallas, Texas 07/26/2013 (Financialstrend) – The stock of TriQuint Semiconductor (NASDAQ:TQNT) had moved up for a great recovery to touch nearly two year high level of prices with the recently announced robust estimated for the financial performance of the company in the third quarter of fiscal year 2013. The company had reported that there would be a minimum of 22% increase in sales for this quarter, relative to the sales reported for the same quarter of previous year and that the wireless communications company would return to the robust growth that had been present around few years back. This had led the stock to close at higher level of prices as recorded in August 2011.
This boost in sales expectation had primarily been attributed to the launch of the new iPhone by fall of this year and to the fact that the largest customer of the company is the Apple contractor Foxconn. The Chief Executive Officer had reported that the company had been performing extremely well with new products added to the portfolio and would further be performing with better positioning in the market place in the next fiscal year.
The stock of TriQuint Semiconductor (NASDAQ:TQNT) gained by 17.53% on Thursday and thereby reported a closing price of $7.98 per share for the day. The company had reported an intraday low price of $7.48 and intraday high price of $8.10 on Thursday. The 52 week low price of the stock is at $4.30 and 52 week high price of the stock is at $8.10 per share. Presently there are 160.90 million shares of the company outstanding in the market and the institutional ownership is at 87%. The stock had a trading volume of 11.22 million shares on Thursday and the average trading volume of the company is at the level of 1.81 million shares per day.