New York, May 22, 2026, 17:04 EDT
Skyworks Solutions closed 12.1% higher on Friday, at $82.42, and edged to $83.00 in after-hours trading, putting the Apple supplier back within sight of its 52-week high. The shares opened at $73.59 and traded as high as $82.46 in the regular session.
The move landed two days after Skyworks launched exchange offers tied to its planned purchase of Qorvo. An exchange offer is a debt swap: in this case, holders of Qorvo notes can exchange them for Skyworks notes if the merger closes. Skyworks is offering up to $850 million of new 2029 notes and up to $700 million of new 2031 notes.
That is not the same as closing the deal. But it is another mechanical step in a transaction meant to combine two radio-frequency chip suppliers. RF, or radio frequency, chips help phones and connected devices send and receive signals.
Skyworks and Qorvo agreed in October to a cash-and-stock deal valuing the combined company at about $22 billion. Qorvo holders are due $32.50 in cash and 0.960 of a Skyworks share for each Qorvo share, with closing expected in early calendar 2027, subject to regulatory and shareholder approvals.
Qorvo rose 8.9% to $106.43 on Friday, tracking the value of the stock portion of the offer. Qualcomm, another smartphone-chip name, jumped about 12% in a firmer chip tape, while the PHLX Semiconductor Index, a 30-stock gauge of companies involved in making, designing and selling semiconductors, rose 1.99% to 12,202.54. StockAnalysis
The broader market helped. U.S. stocks rose, the Dow hit a record closing high, and the Nasdaq Composite added 0.19% to 26,343.97; Reuters quoted James St. Aubin, chief investment officer at Ocean Park Asset Management, as saying the earnings and economic backdrop looked “really solid.” Reuters
Skyworks’ own story has also become less one-note after its May 5 results. Reuters reported the company forecast June-quarter revenue above estimates on demand for its RF chips used in premium smartphones, while second-quarter revenue of $943.7 million and adjusted profit of $1.15 a share also topped estimates.
Chief Executive Phil Brace said “mobile outperformed expectations” and that Broad Markets — Skyworks’ non-mobile business, including Wi-Fi, data center and automotive — delivered double-digit year-over-year growth. Non-GAAP earnings, a measure that excludes some costs such as certain stock-compensation and acquisition-related items, were $1.15 a share in the quarter, Skyworks said. Skyworks Solutions, Inc.
But the rally leaves less room for a bad turn. The note exchange is conditioned on the SEC registration becoming effective and the Qorvo merger closing, while Skyworks’ filings also point to risks around key-customer reliance, margin pressure, market-share loss, design-win conversion and the impact of the Qorvo transaction on its business.
Friday was a regular U.S. stock-market day, but the move came before a long weekend. Nasdaq lists normal trading hours as 9:30 a.m. to 4:00 p.m. Eastern, after-hours trading from 4:00 p.m. to 8:00 p.m., and U.S. markets closed on Monday, May 25, for Memorial Day.
