Starboard Builds Skyworks Stake, Sees Upside in Post-Qorvo Chipmaker
SWKS sits 54% above its 52-week low of $51.93.
Summary
Starboard Value has taken a position in Skyworks and views the chipmaker as undervalued now that the Qorvo acquisition has closed, per Bloomberg. The activist's thesis rests on the two product portfolios fitting together, the $500M in annual cost savings targeted within three years, and room to push operating margins to 30%-35% within two to three years. Starboard is not a newcomer to this story: it built a Qorvo stake in 2025 and pushed for operational improvements, and its two Qorvo board picks, Chris Koopmans and Rick Clemmer, now sit on the combined company's board. That gives the fund a real seat at the table rather than just a megaphone. The Qorvo deal closed October 5 after clearing all regulatory approvals, so the integration and margin targets are now the live question. Watch the next earnings report for the first look at combined-company margins and progress toward the $500M savings target.
At the time of this announcement, SWKS was trading at $79.87 on NASDAQ in the Technology sector, with a market capitalization of approximately $18.7B. The 52-week trading range was $51.93 to $92.80. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.