Activist investor Starboard Value LP has reportedly acquired a 7.7% stake worth approximately $500 million in Qorvo Inc. QRVO on Thursday, targeting the struggling semiconductor manufacturer for potential operational changes.
What Happened: The stake, led by Starboard CEO Jeff Smith, comes as Qorvo faces mounting challenges in the radio frequency chip market, reported the Wall Street Journal, citing sources.
The Greensboro, N.C.-based company’s shares have declined nearly 28% over…
