Skyworks Solutions entered into a merger agreement with Qorvo on October 27, 2025, under which each share of Qorvo common stock will be converted into the right to receive 0.960 shares of Skyworks common stock and $32.50 in cash. Following the closing, Qorvo equityholders and Skyworks equityholders will own approximately 37% and 63%, respectively, of the combined company on a pro forma basis.

1. 01

   Skyworks Solutions entered into a merger agreement with Qorvo on October 27, 2025, under which each share of Qorvo common stock will be converted into the right to receive 0.960 shares of Skyworks common stock and $32.50 in cash. Following the closing, Qorvo equityholders and Skyworks equityholders will own approximately 37% and 63%, respectively, of the combined company on a pro forma basis.

2. 02

   The company said the Mergers are anticipated to close early in 2027. It also said it entered into a commitment letter with Goldman Sachs Bank USA, which committed to provide up to $3,050.0 million of senior unsecured bridge term loans for the purpose of financing a portion of the cash consideration to be paid to Qorvo stockholders and related fees and expenses in connection with the Mergers. The company added that the receipt of financing is not a condition to its obligation to consummate the Mergers.

3. 03

   Skyworks Solutions said net revenue in fiscal 2025 decreased 2.2% to $4,086.9 million compared to fiscal 2024 $4,178.0 million. The company cited a decrease in market share at a significant customer as a factor, partially offset by an increase in demand for its mobile and Wi-Fi products.

4. 04

   The company said its ending cash, cash equivalents, and marketable securities balance decreased 11.8% to $1,388.4 million in fiscal 2025. It said the decrease was primarily due to share repurchases of $830.2 million, dividend payments of $432.6 million, and capital expenditures of $195.0 million, partially offset by cash generated from operations of $1,300.8 million.

Key figures

Fiscal year ended October 3, 2025

Revenue

$4.1B

Operating income

$500M

Net income

$477M

EPS

$3.08

Gross profit

$1.7B

Operating cash flow

$1.3B

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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