Starboard Value’s added Corteva and ON to portfolio, sees growth

BOSTON (Reuters) – Activist investment firm Starboard Value has made new bets on agricultural chemical company Corteva (N:CTVA) and on ON Semiconductor (O:ON) and expects margins can grow at each company, the firm’s chief investment officer Jeff Smith said at a conference on Thursday.

Smith told the 13D Monitor Active-Passive Investment Summit that Corteva’s stock price could surge as much as 90% and that its margins could grow to 23% from 14.4% currently.

He saw opportunity for margin growth at ON as well and said the company could become an attractive acquisition target and that the right new chief executive could create a lot of value.