Key Takeaways Qorvo shares jumped 11% Friday when hedge fund Starboard Value made a significant investment in the maker of radio frequency and power semiconductors.A regulatory filing shows Starboard owns 7.

Activist investor Starboard Value has amassed a stake in chip maker Qorvo that’s worth half a billion dollars, according to a report from The Wall Street Journal. Starboard owns 7.7% of Qorvo, the Journal said,

The activist firm run by Jeff Smith owns a 7.7% stake in the chip maker that competes with the likes of Broadcom and Qualcomm.