So, I just found TQNT on a stock screen, based upon cash to debt ratio, insider holdings, 52 week price point, etc...
That being said, for those who have been on the board for a while - what has been the downward catalyst as of late? It looks pretty solid, based on what I can see from their income and balance sheet, business model, etc... Was there an event that I'm not readily seeing?
I think TQNT fundamentals are strong. The most reason for recent warning came from delayed iPhone 5. I strongly believe this fact since OVTI that provides camera chip for iPhone lowered it's outlook significantly because of same reason. OVTI also indicated that its sale will pick up at the end of October, same statement by TQNT that will have strong Q4.
Calculations of the tangible book value for tqnt range in the $5 area. Including intangibles, I see that the vectorvest system lists tqnt as having a fair value of 8.23, this is reduced as they had it at 9.19 last time I checked ten days ago. For reference they list rfmd fair value as 2.40, but they give rfmd points for better technical indicators. Anyways tqnt does seem to be oversold on both a technical and fundamental basis. It makes sense that it tried to form a bottom at $6, but the selling pressure at the time overwhelmed it.
Looking at the chart it seems obvious that many people and at least one institution knew about the 3rd quarter slowdown before the company announcement and they were selling on that perspective. As they say, fundamental changes always show up on the chart before it comes out in the news.
Once the two weeks of overall selling was underway, a rally to the downside, the trading by software and momentum followers must have made it worse than it should have been despite the bad days on the market. Can I ask what stock scan you were using?, it brought this to your attention at the perfect timing, I think.