Israeli chip maker Mellanox Technologies saw its shares surge after activist hedge fund Starboard Value LP bought a 10.7 percent stake to influence strategy.
Starboard became the biggest shareholder in Mellanox after disclosing its stake purchase - valued at around $300 million - and said the chipmaker could improve its financial performance.
Starboard has been involved in the semiconductor sector for a decade, investing in dozens of chip companies where it led improvements.
Mellanox, which was founded in 1999 and has a market value of nearly $3 billion, said in a statement, that it “welcomes the input and investment” from all its shareholders.