Market Chatter: Starboard Takes 7.7% Stake in Qorvo, Seeks Changes to Boost Share Price

MT Newswires Live

01-17

Qorvo (QRVO) is the latest target of activist investor Starboard Value, which has taken a 7.7% stake in the ship maker valued at around $500 million, The Wall Street Journal reported late Thursday, citing unnamed sources.

The sources said Starboard Value is seeking changes to address Qorvo's underperforming share price, but the outlet said it could not learn specific details about Starboard's plans.

The stake buildup is expected to be disclosed in a securities filing on Friday, the report said.

Qorvo and Starboard Value did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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