Karishma Vanjani
Activist investor Starboard Value has amassed a stake in chip maker Qorvo that's worth billions of dollars, according to a report from The Wall Street Journal.
Starboard owns 7.7% of Qorvo, the Journal said, citing people familiar with the matter. Qorvo, which makes radio-frequency chips for connectivity in Apple iPhones, iPads, and other devices, has a market value of almost $7 billion.
The stock jumped 7% $78.76 in premarket trading. It has struggled over the past year, falling 29%. Starboard is seeking changes to boost the company's lagging share price, the Journal reported.
Write to Karishma Vanjani at karishma.vanjani@dowjones.com.
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(END) Dow Jones Newswires
January 17, 2025 07:31 ET (12:31 GMT)
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