Skyworks Solutions Inc. shares plummeted 9.4% in post-market trading on Tuesday, erasing earlier gains after the chipmaker issued fiscal fourth-quarter earnings guidance that fell short of Wall Street estimates and announced the suspension of its quarterly dividend.

The company reported fiscal third-quarter revenue of $935 million, beating the consensus estimate of $920.3 million, while adjusted earnings per share of $1.08 topped the $1.02 forecast. However, Skyworks guided for Q4 adjusted EPS of $1.27, below analyst expectations of $1.28 to $1.29. The revenue outlook of $1.01 billion to $1.06 billion was roughly in line with estimates.

Pressure on the stock intensified after Skyworks said it would suspend quarterly dividends going forward and anticipates raising $2 billion in acquisition debt financing for its pending merger with Qorvo. The company announced a new $2 billion share repurchase program, redirecting capital previously allocated to dividends toward buybacks and de-levering its balance sheet. The stock had already rallied during regular trading ahead of the release, creating a sell-the-news dynamic as investors reacted to the mixed forward outlook and increased financial leverage.