Qorvo Inc

Forgent Power Solutions shares jumped 9.5% after the company reported fourth-quarter fiscal 2026 adjusted earnings of 25 cents per share, beating the Zacks Consensus Estimate of 23 cents. Skyworks Solutions shares surged 13.6% as CEO Philip Brace expressed confidence that the $22 billion Qorvo merger could close by late September or early October, while Qorvo shares advanced 9.3%. Axon Enterprise shares slipped 9.8% after announcing plans for a $1 billion debt issuance, adding to investor concerns over borrowing costs. Valero Energy shares rose 3.7% as surging crude prices boosted energy stocks amid escalating Middle East supply concerns.

Skyworks Solutions and Qorvo shares surged on Tuesday as the proposed merger between the two semiconductor companies nears completion, with Qorvo climbing 7% and Skyworks soaring 10%. Skyworks CEO Philip Brace said at a Goldman Sachs conference last week that the company is "very confident that we're going to close this calendar year" and is preparing to close in its fiscal year, which ends on September 30. The two companies have already cleared a review by U.S. antitrust regulators, and the deal is in the final phase of review by China's State Administration for Market Regulation, the last hurdle before the merger can close. Brace said the combination offers both a scale play and a diversification play, with roughly $500M of synergies, a mobile business of about $5.5B and a nonmobile business of $2.5B to $2.6B, while also opening new markets such as the defense industry. Skyworks and Qorvo first announced the proposed merger in October 2025.

Skyworks Solutions shares rose 9.79 percent on Thursday to close at $84.03 as CEO Phil Brace told a Goldman Sachs conference that the company's $22 billion merger with Qorvo is in its final stages and is expected to close by the end of the year. Under the deal terms, Qorvo shareholders will receive $32.50 in cash and 0.960 shares of Skyworks for each share held. On completion, Skyworks shareholders will own approximately 63 percent of the combined company and Qorvo stockholders the remaining 37 percent, with Brace serving as CEO and Qorvo President and CEO Bob Bruggeworth joining the board. The transaction, first announced in October 2025, is expected to create a US-based global leader in high-performance radio frequency, analog and mixed-signal semiconductors with combined pro-forma revenue of approximately $7.7 billion and Adjusted EBITDA of $2.1 billion. The news came alongside Skyworks' third-quarter fiscal 2026 results, which showed net income falling 67.7 percent to $33.9 million from $105 million a year earlier, while net revenues slipped 3.12 percent to $934.8 million from $965 million.

Skyworks Solutions has extended the expiration date of its exchange offers for Qorvo's senior notes due 2029 and 2031 to September 11, 2026, from the original September 1 deadline. The offers target up to $850 million of 4.375% notes due 2029 and up to $700 million of 3.375% notes due 2031, with 90.55% and 93.36% of the respective outstanding principal amounts tendered so far. The exchange is part of Skyworks' planned merger with Qorvo, and settlement is expected no earlier than the second business day after the merger closes. Holders who already tendered need not take further action, and the offers remain subject to the terms of the prospectus filed with the SEC.

Qorvo, a developer of radio-frequency and connectivity solutions, agreed to be acquired by competitor Skyworks in late 2025 in a cash and stock deal, according to FPA Queens Road Small Cap Value Fund's second-quarter 2026 investor letter. The fund sold its position in Qorvo following the announcement. Qorvo's shares closed at approximately $94.73 on August 31, 2026, with a market capitalization of about $8.48 billion. The fund noted that Qorvo's business traded cheaply due to customer concentration but was protected by its specialized knowledge and know-how. The fund's technology holdings gained 72.39% in the first half of 2026, contributing 14.87 percentage points to its overall return.

Skyworks Solutions reported third-quarter fiscal 2026 non-GAAP earnings of $1.08 per share, beating the Zacks Consensus Estimate by 4.85%, though earnings declined 18.8% year over year from $1.33. Revenues of $934.8 million fell 3.1% year over year but topped the consensus mark by 1.38%, driven by healthy mobile demand and continued Broad Markets growth, with automotive and data center delivering double-digit gains. Broad Markets generated approximately $403 million in revenues, rising 8% year over year and accounting for 43% of total sales, while AI data center was the fastest-growing operation, expanding at a rate above the 50% annual growth outlook. Mobile contributed 57% of total revenues, with the largest customer generating approximately 57% of total revenues, and management maintained its expectation for roughly flat blended mobile content this year. Non-GAAP gross margin contracted 220 basis points to 44.9% due to higher input costs, and the company ended the quarter with approximately $814 million in cash and investments and $497 million in debt after repaying $500 million of notes. For the fourth quarter of fiscal 2026, Skyworks expects revenues between $1.01 billion and $1.06 billion, with non-GAAP earnings of $1.27 per share at the midpoint, and it said regulatory reviews for the Qorvo transaction are progressing, with the combination potentially closing within calendar 2026. The board authorized a new $2 billion share-repurchase program for the combined company and decided not to declare quarterly dividends going forward, redirecting capital toward share repurchases, debt reduction, and strategic acquisitions.

Qorvo insider stock disposals are now largely a formality because the company is being acquired by Skyworks Solutions under terms that convert each Qorvo share into $32.50 in cash plus 0.96 of a Skyworks share. A recent filing showed SVP Steven E. Creviston disposed of 3,949 shares at $95.04 per share on August 5, a non-discretionary move to cover tax withholding that trimmed his direct holdings by 3% to 124,261 shares. The deal, initially expected by early 2027, could close sooner according to Skyworks CEO Phil Brace, who said he is optimistic about closing within the calendar year. Qorvo’s fiscal fourth-quarter revenue fell 7% to $808 million, but non-GAAP earnings of $1.69 a share beat the $1.21 estimate.

Antipodes Partners’ Global Value Strategy highlighted Qorvo’s pending merger with Skyworks as a potential catalyst for a major turnaround. The firm stated that combining the two largest US RF semiconductor competitors can reduce duplicated manufacturing, leverage a combined R&D base, and pool RF technology to lower single-socket risk, resulting in better scale and a structurally lower cost base. Beyond handsets, both companies are pivoting into structurally growing markets such as datacentre power and connectivity, automotive connectivity, and defence and aerospace communications. Qorvo closed at $95.33 per share on August 6, 2026, with a market capitalization of $8.41 billion.

Qorvo Inc. delivered a better-than-expected first quarter for fiscal 2027, with adjusted earnings of $1.64 per share beating the Zacks Consensus Estimate of $1.10 and revenues of $784.8 million topping the $745.8 million consensus. Non-GAAP earnings rose 78% from the prior-year quarter, driven by a non-GAAP gross margin improvement to 52.8% from 44.0% and lower operating expenses. The High-Performance Analog segment was a standout, with revenue up 50.1% year over year to $206.3 million, while the Advanced Cellular Group still represented 60.7% of total revenues. Management reaffirmed its expectation for non-GAAP gross margin above 50% during fiscal 2027 and raised its fiscal 2027 non-GAAP earnings outlook to above $7.00 per share. The pending Skyworks Solutions transaction has led the company to discontinue quarterly conference calls and forward-looking guidance, limiting near-term visibility.

Skyworks Solutions announced that the Hart-Scott-Rodino waiting period for its pending merger with Qorvo has expired. The company disclosed the development in a Securities and Exchange Commission filing on Monday, stating it is hopeful the transaction will close within the calendar year and is preparing to close as early as within the fiscal year. Skyworks, which supplies radio frequency chips to Apple and other smartphone makers, had announced in October 2025 its plan to buy Qorvo in a cash-and-stock deal valuing the combined enterprise at around $22 billion. In its most recent quarterly results, Skyworks reported adjusted earnings per share of $1.08, above the $1.03 estimate, and revenue of $934.8 million, above the $925 million estimate.

Qorvo reported strong first-quarter fiscal 2027 results, with adjusted earnings of $1.64 per share and revenues of $784.8 million, both surpassing the Zacks Consensus Estimate. Non-GAAP net income rose to $146.6 million from $86.5 million a year ago, while GAAP net income reached $85.8 million, or 96 cents per share. Total net sales declined from $818.8 million in the prior-year quarter, weighed down by a 16.6% drop in the Advanced Cellular Group segment to $476.6 million, but the High-Performance Analog segment grew to $206.3 million from $137.4 million, driven by defense and aerospace demand. Non-GAAP gross margin improved to 52.8% from 44%, and operating expenses fell to $236.6 million, helping lift non-GAAP operating income to $177.6 million. The company ended the quarter with $1.33 billion in cash and equivalents and $1.55 billion in long-term debt, while cash from operations was $139.5 million.

Skyworks Solutions reported third-quarter fiscal 2026 revenue of $935 million, with GAAP diluted earnings per share of $0.22 and non-GAAP diluted earnings per share of $1.08, while announcing key steps toward its pending combination with Qorvo. The company said regulatory approvals are progressing and it is optimistic about closing within the calendar year, potentially as early as the fiscal year. Skyworks expects to raise approximately $2 billion in acquisition debt financing and unveiled a new capital allocation framework for the combined company, including a $2 billion stock repurchase authorization and the decision to halt quarterly dividends. For the September quarter, Skyworks guided revenue of $1.01 billion to $1.06 billion and non-GAAP diluted earnings per share of $1.27 at the midpoint, with Mobile revenue expected to grow sequentially in the high-teens range and Broad Markets up about 5% year-over-year.

Qorvo has been recognized by Northrop Grumman with a 2026 Supplier Excellence Award for Strategic Excellence. The award highlights Qorvo's role in delivering high-performance RF solutions for mission-critical applications across radar, communications, and electronic warfare systems, supporting next-generation defense capabilities including aircraft, missile defense, and space platforms. Northrop Grumman's vice president and chief supply chain officer Ken Brown emphasized the importance of strong partnerships in protecting the United States and its allies. Philip Chesley, president of Qorvo's High Performance Analog business, said the recognition reflects the strength of the strategic partnership and a shared commitment to advancing defense technologies.

Synaptics has surged 74.95% year to date, leading a basket of smartphone chip stocks poised to benefit from the next handset upgrade cycle driven by on-device AI, camera stacks, and RF complexity. The company reported fiscal Q3 2026 revenue of $294.20 million and an 8.17% beat on non-GAAP EPS of $1.09, with full-year Core IoT revenue expected to grow more than 40% year over year to over $385 million. Qualcomm, trading at a forward P/E in the low double digits, saw handset revenue fall 13% year over year to $6.024 billion but expects a bottom in Chinese handset revenues in Q3 FY26 and has authorized a $20 billion share repurchase program. Cirrus Logic delivered a 59.84% EPS beat at $1.95 in Q4 FY26, with full-year free cash flow surging 52.97% to $635.76 million, and is developing next-generation camera controllers to increase Apple silicon content per device. Qorvo posted a 39.48% EPS beat at $1.69 and a 670-basis-point gross margin expansion to 52.6%, while Skyworks Solutions, down 22.29% over the past year, reported a 10.10% EPS beat at $1.15 and expects a multi-generational Android design win to generate over $1.00 billion in revenue through 2030.

The nine processors and graphics chips stocks tracked by this publication reported a very strong first quarter, with aggregate revenues beating analysts' consensus estimates by 2.9% and next-quarter revenue guidance coming in 4.2% above expectations. Allegro MicroSystems posted revenue of $243.2 million, up 26.1% year-on-year and 3.2% above estimates, though it missed EPS forecasts. Lattice Semiconductor delivered the best performance with revenue of $170.9 million, a 42.2% increase that beat estimates by 3.6%, while Qualcomm was the slowest, reporting $10.6 billion in revenue, down 2.2% and in line with expectations but issuing weak guidance. Intel stood out with revenue of $13.58 billion, up 7.2% and beating estimates by 9.6%, and its stock has surged 93% since reporting. Qorvo reported $808.3 million in revenue, down 7% but beating estimates by 1%. Share prices across the group have risen 43.7% on average since the latest earnings results.

Qorvo shares rallied 3.6% in the last trading session to close at $101.98. The move came on notable volume and was largely buoyed by a positive response to exchange offers by Skyworks for Qorvo's Senior Notes due 2029 and 2031, clearing a major hurdle for the proposed acquisition of Qorvo by Skyworks to close by early 2027. Qorvo is expected to post quarterly earnings of $1.10 per share, a year-over-year increase of 19.6%, on revenues of $738.71 million, down 9.8% from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days, and the stock carries a Zacks Rank of 3, or Hold. Skyworks Solutions, another stock in the Zacks Semiconductors - Radio Frequency industry, finished the session 5.1% higher at $76.18 and also holds a Zacks Rank of 3.