Skyworks Surges as Merger with Qorvo Nears Approval
Shares of Skyworks Solutions (NASDAQ:SWKS) rose by nearly 9.8% on Thursday, driven by optimism surrounding the impending $22 billion merger with Qorvo Inc. The deal is expected to close before year-end after being announced in October 2025 and entering its final approval stages. Under terms of the agreement, Skyworks shareholders will own approximately 63% of the combined company, while Qorvo stockholders will hold about 37%. Phil Brace, CEO of Skyworks, is set to lead the new entity, with Bob Bruggeworth joining as a board member. The merger aims to create a global leader in high-performance RF and analog semiconductors. Combined pro-forma revenue for the merged company is projected at $7.7 billion annually, with Adjusted EBITDA of $2.1 billion. Despite recent weak Q3 results—Skyworks reported a 67.7% drop in net income to $33.9 million and a 3.12% decline in revenue—the CEO noted that performance exceeded expectations due to strong demand for mobile products and growth across automotive and data center segments. Institutional investors have increased their holdings, with hedge fund commitments rising by 8.5% quarter-on-quarter to $1.517 billion.
