Activist Investor Calls for Breakup of Qualcomm

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Qualcomm headquarters in Mira Mesa. Photo via Wikimedia Commons

An activist investor is calling for the breakup of Qualcomm to boost the wireless company’s stock price, according to The Wall Street Journal.

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The newspaper reported Monday that Jana Partners LLC is asking the San Diego-based company to spin off its chip-making business. Samsung, previously a major customer, recently passed over Qualcomm’s flagship Snapdragon processer for the latest Galaxy S6 smartphone

Jana has a $2 billion stake in Qualcomm, making it one of the company’s largest investors.

The Journal quoted Qualcomm as saying it welcomed input from investors and would consider the matter.

After opening higher on NASDAQ, Qualcomm’s stock was later trading a a few cents below Friday’s close of $69.16 per share.

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