Qorvo nominates Starboard's Peter Feld to board, ending boardroom battle

From Yahoo Finance: 2025-05-19 07:42:00

Chipmaker Qorvo will nominate activist investor Peter Feld to its board, ending a boardroom battle. Shares fell 38% last year due to competition and demand shift towards entry-tier smartphones. However, winning additional chip contracts with Apple has boosted shares over 10% this year. Starboard increased stake to 8.9% valued at over $600 million. Feld is a managing member at Starboard. Starboard’s stake in Qorvo was first disclosed in January at about 7.7%, estimated to be worth over $500 million at that time. Hedge fund Starboard, led by Jeffrey Smith, is known for pushing changes at firms like Pfizer and Salesforce.

Read more: Qorvo nominates Starboard’s Peter Feld to board, ends boardroom battle