MergerJul 28, 2026, 04:53 PM
Skyworks Halts Dividends, Reports Q3 Net Income Down 68%
AI Summary
Skyworks Solutions announced that its Board of Directors decided to halt quarterly cash dividends going forward, effective July 28, 2026, in light of the pending merger with Qorvo, Inc. The company reported a significant decline in its third-quarter financial results, with net income falling 67.7% to $33.9 million and diluted EPS decreasing 68.6% to $0.22. Additionally, Skyworks terminated its previous stock repurchase program and approved a new one authorizing up to $2.0 billion in share repurchases.
Key Highlights
- Board decided not to declare quarterly cash dividends going forward, effective July 28, 2026, due to pending mergers.
- Company entered into a cash-and-stock merger agreement with Qorvo, Inc. on October 27, 2025.
- Q3 2026 net income decreased 67.7% to $33.9 million from $105.0 million in Q3 2025.
- Q3 2026 net revenue declined 3.1% to $934.8 million from $965.0 million in Q3 2025.
- Q3 2026 diluted EPS fell 68.6% to $0.22 from $0.70 in Q3 2025.
- New stock repurchase program approved for up to $2.0 billion through January 31, 2029.
- Net cash provided by operating activities for the nine months ended July 3, 2026, was $516.2 million, down from $1,100.8 million.
- Inventory increased to $1,015.5 million as of July 3, 2026, from $754.7 million as of October 3, 2025.
Price Impact
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