Skyworks (SWKS) Rockets 9.8% on Looming $22B Qorvo Merger Nod

Skyworks Solutions Inc. (SWKS) experienced a 9.79 percent increase in share prices, closing at $84.03 on Thursday, as investors grew more confident about the company's $22 billion merger with Qorvo Inc. According to Skyworks CEO Phil Brace, the merger, initially announced in October 2025, is nearing completion and is projected to finalize by the end of the year.

In the deal, Qorvo shareholders will receive $32.50 in cash and 0.960 shares of Skyworks for each share they hold. Following the merger, Skyworks shareholders will control roughly 63 percent of the company, while Qorvo shareholders will own the remaining 37 percent.

Brace will continue to serve as CEO of the newly formed entity, while Qorvo President and CEO Robert Bruggeworth will join the board of directors. The merger of the two companies, both specializing in high-performance analog and mixed-signal semiconductors, aims to create a US-based global leader in radio frequency, analog, and mixed-signal semiconductors. The combined company is expected to boast a pro-forma revenue of approximately $7.7 billion and an Adjusted EBITDA of $2.1 billion.

Qorvo's third-quarter earnings for the fiscal year ending June 2026 saw a 67.7 percent drop in net income, dropping from $105 million to $33.9 million. Net revenues also decreased by 3.12 percent, falling from $965 million to $934.8 million compared to the same period last year. Brace attributed the decline to healthy demand in mobile, as well as positive growth across broader markets, particularly in automotive and data center sectors.

Despite lower-than-expected figures, Skyworks' performance surpassed market expectations. Institutional investors showed strong interest in the company, with committed capital in its shares surging during the second quarter. The number of hedge funds holding SWKS shares remained steady at 35, but their collective holdings rose by 8.5 percent to $1.517 billion from $1.397 billion quarter-over-quarter.

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