Starboard builds 7.7% stake in chipmaker Qorvo, WSJ reports

(Reuters) -Activist investor Starboard Value has built a 7.7% stake in chipmaker Qorvo, 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, Rupert Murdoch's News Corp, and business software provider Salesforce.

(Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Alan Barona and Rashmi Aich)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• British Columbia district declares state of emergency, issues evacuation orders as wildfire rages
• Bulgaria's Radev says drone exploded in Bulgaria's airspace
• Leaders of Serbia and Ukraine pledge closer economic ties