All companies on an exchange have to comply with the exchange's listing requirements. The listing requirements might require a company to have a minimum price per share over a period. A reverse split raises the per share price and might be a motivation for a reverse split.
In addition, there are all kinds of theories on the right price for a current listing. Some believe price influences volume then volume drives price up in a cycle. This rational also underpins reverse splits.
The selection of the word theory is purposeful as there are no creditable studies indicating splits have any effect other than the obvious change in market price. Case in point is Berkshire Hathaway. The Class As at Berkshire have never split. Warren seems to be doing fine.