Why Qorvo Rallied Double Digits Today
Qorvo(QRVO) The Motley Fool·2025-01-18 03:30
Shares of chipmaker Qorvo (QRVO 13.11%) rallied 13.4% on Friday, as of 1:55 p.m. ET.Qorvo soared on the news that an activist investor had taken a sizable stake in the company. Given that the stock is down about 29% in the last year and activist involvement could lead to shareholder-friendly moves, Qorvo rallied on the news.Starboard takes 7.7% of QorvoIn a filing today, Qorvo disclosed activist investing firm Starboard Value Partners had taken a 7.29 million share stake in the company, good for about $500 ...