Starboard Stakes 7.7% Claim In Qorvo As Apple Supplier Seeks Rebound
With Qorvo’s chips still down, activist investor Starboard Value has placed a massive bet on the semiconductor maker’s potential. The firm quietly accumulated a 7.7% stake worth ~$500M in the chipmaker, gearing up to compete with rivals like Skyworks, Qualcomm, and Broadcom. But the firm has its fair share of problems, too.
- Boasting a ~$7B market value, Qorvo has struggled to control expenses and disappointed Wall Street forecasts — prompting a stock slump and forcing the chipmaker to consolidate factories to boost profitability.
- Starboard’s semiconductor resume includes successful investments in industry leaders like Nvidia, Marvell Technology, and ON Semiconductor — while also recently expanding to positions in Pfizer, Kenvue, and bitcoin miner Riot Platforms.
What’s next? With down 26% in the past year (pre-announcement), Starboard’s timing coincides with major industry shifts as consumers opt for entry-tier smartphones. While Qorvo’s flagship and premium chip manufacturing segments remain stable, the CFO doesn’t expect the lost ground to recover anytime soon. Despite these setbacks, TipRanks predicts Starboard could unlock value through manufacturing efficiencies and steer the company toward red-hot AI initiatives — proving the best opportunities can emerge from tough times.
