Activist investment firm Starboard Value has accumulated a 7.7% stake in the semiconductor company Qorvo, valued at approximately $500 million, according to a report by the Wall Street Journal on Thursday. The details of the investment are expected to be disclosed in a securities filing scheduled for Friday morning.
While the specific intentions of Starboard regarding Qorvo remain unclear, the investment firm is reportedly seeking to push for changes at the company, which has been struggling with a lagging stock price. Both Starboard Value and Qorvo have not yet responded to requests for comment.
Starboard, led by Jeffrey Smith, is recognized as one of the world’s leading activist investors and has recently advocated for changes at companies like Pfizer, News Corp, and Salesforce.
