On October 8, Skyworks Solutions fell 5.18% in regular trading, trading at $79.21 per share, with Turnover of $24.402 million.
The decline comes after the company recently completed its combination with Qorvo, triggering profit-taking sentiment despite positive analyst commentary and expected synergies.
The combined entity anticipates annualized cost synergies of at least $500 million within 24 to 36 months post-close, and the transaction is expected to immediately boost non-GAAP earnings per share. Legacy Skyworks shareholders own approximately 63% of the combined company, with former Qorvo shareholders holding about 37%. Phil Brace remains CEO, and the company retains the Skyworks name and SWKS ticker.
Within the Semiconductors sector, Micron Technology fell 0.93%, NVIDIA fell 1.32%, Advanced Micro Devices fell 1.69%, Intel fell 2.77%, and Broadcom fell 1.88%.
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