Stewart Frank P. sold $784K of QRVO

Dot Ai completed its $65M acquisition of Envoy, gaining full ownership of its EV-sharing platform. Skyworks and Qorvo finalized their $22B merger, aiming for $500M in cost savings. XMax agreed to acquire Hexa Creation for $4.12M to access its 1200V GaN tech.

Skyworks Solutions Inc. completed its acquisition of Qorvo Inc., forming a $22B semiconductor company. The combined entity will operate as Skyworks (SWKS) and expand into defense, aerospace, and other sectors. Skyworks expects $500M in savings over three years. Shares are up 27% YTD but down 50% over five years. Analysts have mixed outlooks on the merger's impact.

Skyworks issued $1.42 billion in new senior unsecured notes, refinancing Qorvo notes. The company sold $778.1 million of 4.375% notes due 2029 and $646.8 million of 3.375% notes due 2031, consolidating liabilities and aligning capital structure. The transactions follow tenders of Qorvo's 2029 and 2031 notes.

Jim Cramer recommended buying Skyworks Solutions (SWKS) after its merger with Qorvo (QRVO) was completed. Skyworks shares traded at $81.73, above the average analyst price target of $69.82. The company reported a 68.6% year-over-year drop in quarterly earnings but expects a recovery. Skyworks plans $500 million in synergies and has a significant revenue exposure to Apple (AAPL).

B.Riley upgraded Skyworks Solutions (SWKS) to Buy, raising its price target to $107. The move follows Skyworks' early completion of its Qorvo acquisition, with projected cost savings and EPS growth. SWKS shares fell 1% post-announcement, despite a 10% prior-month gain. Analysts have mixed views on SWKS, with some citing overvaluation and merger execution risks.

Skyworks Solutions completed its acquisition of Qorvo, forming a combined company trading as Skyworks (SWKS) on Nasdaq. Qorvo shareholders receive $32.50 in cash and 0.960 Skyworks shares per Qorvo share. The merger aims to create cost synergies of at least $500 million and expand into new markets, according to Skyworks.