Update - July 26, 2007
Conference Call Replay Number: 706-645-9291
Passcode: 6984738

Hillsboro, Oregon – July 25, 2007 – TriQuint Semiconductor, Inc. (Nasdaq: TQNT), a supplier of high performance products for communications applications, today reported its financial results for the quarter ended June 30, 2007, which included the following highlights:

Second Quarter 2007

• Revenues totaled $113.8 million, an increase of 18% over the second quarter of 2006
• Kyocera Wireless Corporation awarded TriQuint with the RF Supplier-of-the-Year award
• WCDMA/EDGE revenue up 152% over Q2 2006
• Transmit modules grew 141% over Q2 of 2006
• TriQuint’s cash, cash equivalents and investments balance grew $4.8 million
• Cash flow from operations was $4.3 million
• New Product Selection Guide released, an overview of nearly 500 new and existing RF products
• Record quarter for number of handset design wins
• WLAN revenue grew 40% over Q2 of 2006

Commenting on the results for the quarter ended June 30, 2007, Ralph Quinsey, President and Chief Executive Officer, stated, “Independent of excess inventory charges and period expense unique to Q2 2007, our fundamental progress continues. Revenues increased 18% as compared to the second quarter of 2006. This strong revenue performance is due to new product success and design wins with both new and existing customers. In Q2 we launched our vision “Simplifying RF Connectivity” for broadband communications providing RF engineers around the world unique, highly-integrated products, more high performance packaged devices and simplified channel access. With the launch we released our first product selection guide, an overview of nearly 500 new and existing RF products. I expect 2007 revenue growth of 14-18% as compared to 2006 with 10-20% earnings growth year over year.”

Summary Financial Results and Highlights for the Quarter Ended June 30, 2007:

Revenue for the second quarter of 2007 was $113.8 million. Revenue for the second quarter of 2006 was $96.3 million and $110.6 million for the first quarter of 2007.

Net income for the second quarter of 2007 was $1.4 million or $0.01 per diluted share. Net income for the second quarter of 2006 was $5.6 million or $0.04 per diluted share. Net income for the first quarter of 2007 was $6.4 million or $0.05 per diluted share.

Excluding equity compensation expense of $2.1 million, net income for the second quarter of 2007 was $3.5 million or $0.02 per diluted share. Excluding equity compensation expense of $2.6 million, net income for the second quarter of 2006 was $8.3 million or $0.06 per diluted share. Excluding equity compensation expense of $1.7 million, net income for the first quarter of 2007 was $8.1 million or $0.06 per diluted share.

Gross margin for the second quarter of 2007 was 26.5%, compared to 32.1% for the second quarter of 2006 and 31.1% for the first quarter of 2007.

Excluding equity compensation expense, our gross margin for the second quarter of 2007 was 27.2%. Gross margin excluding equity compensation expense was 32.9% in the second quarter of 2006 and 31.6% in the first quarter of 2007. Our margins for the second quarter of 2007 were primarily affected by $4.1 million in excess inventory charges. The impact of the charge was 3.6% to gross margin.

Operating expenses for the second quarter of 2007 were $30.7 million, or 26.9% of revenue, as compared to $27.0 million, or 28.0% of revenue, in the second quarter of 2006 and $29.5 million, or 26.7% of revenue, for the first quarter of 2007.

Excluding equity compensation expense, operating expenses for the second quarter of 2007 were $29.3 million or 25.8% of revenue. Operating expenses excluding equity compensation expense were $25.2 million or 26.1% of revenue in the second quarter of 2006 and $28.3 million, or 25.6% of revenues in the first quarter of 2007.

Cash, cash equivalents and short-term marketable securities were $154.8 million as of June 30, 2007, an increase of $4.8 million as compared to the balance of $150.0 million on March 31, 2007. During the first quarter of 2007, TriQuint retired $218.8 million of its convertible subordinated notes upon maturity.

TriQuint acquired approximately $5.2 million of capital assets during the quarter. Depreciation and amortization expense for the second quarter of 2007 was approximately $7.5 million. Cash flow from operations was approximately $4.3 million during the quarter.

Outlook for the Third Quarter of 2007:
Revenue for the third quarter of 2007 is expected to be slightly up from the second quarter of 2007. Earnings are expected to be in the range of $0.03 to $0.05 per diluted share. Earnings excluding equity compensation expense of $2.3 million are expected to be $0.05 to $0.07 per diluted share.

Outlook for 2007:
Revenue for 2007 is expected to be up 14%-18 % over 2006 with earnings up 10-20%.

Conference Call:
TriQuint will host a conference call this afternoon at 2:00 p.m. PDT to discuss the results for the quarter
as well as our future expectations for the Company. To access the conference call, investors can dial (888) 813-6582 domestically or (706) 643-7082 internationally approximately ten minutes prior to the invitation of the teleconference. The call can also be heard via webcast accessed through the “Investors” section of TriQuint’s web site: www.triquint.com, or through www.Vcall.com. A replay will be available for 7 days by dialing (706) 645-9291, passcode 6984738.

Non-GAAP Financial Measures:
This press release provides financial measures for net income, diluted earnings per share, gross margin and operating expenses that exclude equity compensation expense and the related tax effects, and are therefore not calculated in accordance with accounting principles generally accepted in the United States (“GAAP”). Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance that enhances management’s and investors’ ability to evaluate TriQuint’s operating results prior to the adoption of Statement of Financial Accounting Standards No. 123(R), Share-Based Payments.

Forward Looking Statements:
This press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that forward-looking statements such as statements of TriQuint’s projected revenues, growth rates, gross margins, operating expenses, operating results, and earnings per share for the second quarter of 2007 and full year 2007 are statements that involve risks and uncertainties. Statements regarding continued market acceptance of our transmit modules and other products are also forward looking statements that contain risks and uncertainties. TriQuint cannot provide any assurance that future results will meet expectations. Results could materially differ based on various factors, including TriQuint’s performance; demand for its products, ability to develop new products; improve yields; maintain product pricing; reduce costs; ability to win customers; market conditions; and the completion of TriQuint’s independent auditor’s review of the second quarter of 2007. In addition, historical information should not be considered an indicator of future performance. Additional considerations and important risk factors are described in TriQuint’s reports on Form 10-K and 10-Q and other filings with the Securities and Exchange Commission. These reports can be accessed at the SEC web site, www.sec.gov.

A reader of this release should understand that it is not possible to predict or identify all risk factors and should not consider the list to be a complete statement of all potential risks and uncertainties.

About TriQuint:
TriQuint Semiconductor, Inc. (Nasdaq: TQNT) is a leading supplier of high performance modules, components and foundry services for the world’s leading communications companies. The Company’s focus is on the specialized expertise, materials and know-how of radio frequency (RF) and other high intermediate frequency applications. The Company enjoys diversity in its markets, applications, products, technology and customer base. Markets include wireless handsets, broadband communications, wireless base stations and military systems. TriQuint provides customers with standard and custom products as well as foundry services. The Company’s products are designed on various wafer substrates including compound semiconductor materials such as gallium arsenide (GaAs) and piezoelectric crystals such as lithium tantalate (LiTaO3). The Company also uses a variety of process technologies using GaAs substrates including hetrojunction bipolar transistor (HBT) and pseudomophic high electron mobility transistor (pHEMT). Using various other substrates the Company also manufacture surface acoustic wave (SAW) and bulk acoustic wave (BAW) products. TriQuint customers include major communications companies worldwide. TriQuint has manufacturing facilities in Oregon, Texas, and Florida, as well as an assembly plant in Costa Rica, plus sales/application support offices in Asia and design centers in New England, North Carolina and Germany.

TriQuint is headquartered at 2300 NE Brookwood Parkway, Hillsboro, OR 97124 and can be reached at 503/615-9000 (fax 503/615-8900). Visit the TriQuint web site at http://www.triquint.com.