Starboard Acquires Approximately $500 Million Stake in Chipmaker Qorvo

The activist firm led by Jeff Smith owns a 7.7% stake in the chip manufacturer that competes with companies like Broadcom and Qualcomm. The activist investor Starboard Value has built a significant stake in chipmaker Qorvo and is looking for leverage points to boost the company's struggling stock price, according to people familiar with the matter. Approximately $500 million is the value of the investment Starboard has built a 7.7% stake in the company, the individuals said. The stake worth around half a billion dollars is expected to be disclosed...