Piper Sandler upgrades Qorvo on Starboard’s stake

Investing.com

28 Jan

Investing.com -- Piper Sandler upgraded Qorvo Inc (NASDAQ:QRVO) shares to "overweight" on potential operational and capital efficiencies driven by Starboard Value’s recent involvement. The activist investor disclosed a 7.7% stake in Qorvo, valued at approximately $500 million, signalling plans for a turnaround strategy similar to its previous successes in the semiconductor sector.

Piper Sandler highlighted Starboard’s proven track record with companies like ON Semiconductor (NASDAQ:ON) and Marvell (NASDAQ:MRVL) Technology, where it implemented cost controls, optimized manufacturing footprints, and facilitated strategic divestitures. For Qorvo, the firm estimates potential operating expense savings of $250 million to $300 million, aligning its cost structure with peers like Skyworks Solutions (NASDAQ:SWKS).

Starboard could streamline Qorvo’s plant operations and unlock higher market value for its analog business. Qorvo’s shares have dropped 20% over five years compared to a 175% gain in the Philadelphia Semiconductor Index. Analysts believe the activist’s involvement offers a clear path for improvement. Piper Sandler raised its price target for Qorvo to $110, on opportunities for operational enhancements and strategic focus.

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The activist ...</p>\n<a href=\"https://finance.yahoo.com/news/piper-sandler-upgrades-qorvo-starboard-184409407.html\">Source Link</a>\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"QRVO","symbol_name":"Qorvo, Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/piper-sandler-upgrades-qorvo-starboard-184409407.html","article_id":"2506586184","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2506586184","pubTimestamp":1738003449,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Investing.com --Piper Sandler upgraded Qorvo Inc  shares to \"overweight\" on potential operational and capital efficiencies driven by Starboard Value’s recent involvement. The activist investor disclosed a 7.7% stake in Qorvo, valued at approximately $500 million, signalling plans for a turnaround strategy similar to its previous successes in the semiconductor sector.Piper Sandler highlighted Starboard’s proven track record with companies like ON Semiconductor  and Marvell  Technology, where it implemented cost controls, optimized manufacturing footprints, and facilitated strategic divestitures. For Qorvo, the firm estimates potential operating expense savings of $250 million to $300 million, aligning its cost structure with peers like Skyworks Solutions .Starboard could streamline Qorvo’s plant operations and unlock higher market value for its analog business. Qorvo’s shares have dropped 20% over five years compared to a 175% gain in the Philadelphia Semiconductor Index. Analysts belie","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"QRVO":"Qorvo, Inc."},"translate_title":"Piper Sandler升级Qorvo在Starboard的股份","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"QRVO":1},"content_text":"Investing.com -- Piper Sandler upgraded Qorvo Inc (NASDAQ:QRVO) shares to \"overweight\" on potential operational and capital efficiencies driven by Starboard Value’s recent involvement. The activist investor disclosed a 7.7% stake in Qorvo, valued at approximately $500 million, signalling plans for a turnaround strategy similar to its previous successes in the semiconductor sector.\nPiper Sandler highlighted Starboard’s proven track record with companies like ON Semiconductor (NASDAQ:ON) and Marvell (NASDAQ:MRVL) Technology, where it implemented cost controls, optimized manufacturing footprints, and facilitated strategic divestitures. 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Piper Sandler raised its price target for Qorvo to $110, on opportunities for operational enhancements and strategic focus.\nRelated Articles\nPiper Sandler upgrades Qorvo on Starboard’s stake\nFormer Archegos CFO Halligan gets 8-year prison sentence\nStella McCartney label parts with LVMH, designer stays on as sustainability ambassador","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}