Starboard builds 7.7% stake in chipmaker Qorvo, WSJ reports (updated)
17/01/2025 24:44
(Adds details and background in paragraphs 2-5)
Jan 16 (Reuters) - Activist investor Starboard Value has
built a 7.7% stake in chipmaker Qorvo QRVO.O , the Wall Street
Journal reported on Thursday, citing people familiar with the
matter.
The stake, valued at around $500 million, is expected to be
revealed in a securities filing Friday morning, according to the
report.
The details on Starboard's plans for Qorvo could not be
learned, the report added. Starboard and Qorvo did not
immediately respond to Reuters' requests for comment.
Starboard is seeking changes to boost the company's lagging
share price, the report said.
Starboard Value, run by Jeffrey Smith, is one of the world's
most prominent activist investors and has recently been pushing
for changes at firms including Pfizer PFE.N , Rupert Murdoch's
News Corp NWSA.O , and business software provider Salesforce
CRM.N .
(Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Alan
Barona and Rashmi Aich)
((Gnaneshwar.Rajan@thomsonreuters.com))