Skyworks Solutions Inc. (NASDAQ:SWKS) grew its share prices by 9.79 percent on Thursday to close at $84.03 amid increasing optimism over an approval for its $22 billion planned merger with Qorvo Inc.
This followed Skyworks CEO Phil Brace’s announcement at a Goldman Sachs conference that the company’s merger with Qorvo is in the final stages and is expected to close by the end of the year.
Under the terms of the agreement, Qorvo shareholders are set to receive $32.50 in cash and 0.960 shares of Skyworks Solutions Inc. at the close of the transaction.
Upon completion, Skyworks shareholders will own approximately 63 percent of the company, while Qorvo stockholders will hold the remaining 37 percent.
Brace will also serve as CEO of the combined company, while Qorvo President and CEO Bob Bruggeworth will join the board of directors.
Photo by Tima Miroshnichenko on Pexels
Global Leader in the Sector
The merger was initially announced in October 2025, under which Skyworks Solutions Inc.—a firm engaged in high-performance analog and mixed-signal semiconductors—and Qorvo—a global provider of connectivity and power solutions—will combine in a cash-and-stock transaction to create a US-based global leader in high-performance radio frequency, analog, and mixed-signal semiconductors.
The transaction is expected to enhance scale and financial profile with combined pro-forma revenue of approximately $7.7 billion and Adjusted EBITDA of $2.1 billion, and compete against larger players.
Weak Q3
Skyworks Solutions Inc. reported a 67.7-percent drop in its net income for the third quarter of the fiscal year 2026 ending June, at $33.9 million versus $105 million in the same period last year.
Net revenues also dipped by 3.12 percent to $934.8 million from $965 million year-on-year.
“Mobile performed well on healthy demand, and broad markets delivered another quarter of year-over-year growth, led by double-digit gains in automotive and data center,” Brace said, adding that the figures—despite being lower—exceeded company expectations.
Stronger Hedge Fund Conviction
Institutional investors turned strong for the company in the second quarter of the year, as evidenced by the jump in committed capital in its shares.
While the number of hedge funds was unchanged at 35 during the period, their combined holdings grew by 8.5 percent to $1.517 billion from $1.397 billion quarter-on-quarter.
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