Oct 5, 8:43 AM ET
Qorvo became a wholly owned subsidiary of Skyworks on October 5, 2026, when the mergers closed. Each outstanding Qorvo common share was converted into 0.960 Skyworks common shares plus $32.50 in cash, and Qorvo stock stopped trading on Nasdaq before the October 5 open, with delisting expected the same day. Qorvo also terminated its credit agreement with Bank of America, with no borrowings outstanding.
- Each Qorvo common share converted into 0.960 Skyworks common shares plus $32.50 in cash, without interest
- Trading of Qorvo common stock on Nasdaq halted before the open on October 5, 2026; Nasdaq expected to file Form 25 that day
- Credit Agreement dated April 23, 2024 with Bank of America terminated at closing; no borrowings were outstanding
- All members of Qorvo's board resigned at closing, and Qorvo intends to file Form 15 to end SEC reporting
Read the filing on SEC.gov ↗
Jul 28, 4:07 PM ET
Qorvo reported fiscal 2027 first-quarter revenue of $784.8 million, down 4.2% from a year earlier and 2.9% from the prior quarter, while GAAP diluted EPS rose to $0.96 from $0.27 and non-GAAP diluted EPS rose to $1.64 from $0.92. The company said it expects full-year fiscal 2027 non-GAAP diluted EPS above $7.00, but it has stopped holding conference calls and giving forward-looking guidance because of its pending transaction with Skyworks.
- Revenue was $784.8 million, down from $818.8 million a year earlier and $808.3 million in the fourth quarter of fiscal 2026.
- GAAP operating income was $96.8 million and non-GAAP operating income was $177.6 million; non-GAAP gross margin was 52.8%, up 8.8 percentage points year over year.
- Management now expects full-year fiscal 2027 non-GAAP diluted EPS above $7.00 and non-GAAP gross margin above 50%.
- Fiscal 2027 is a 53-week year, and the fiscal second quarter ending October 3, 2026 will include 14 weeks.
Read the filing on SEC.gov ↗
Jun 11, 9:54 PM ET
On June 11, 2026, Qorvo entered supplemental indentures for its 2029 and 2031 senior notes, after receiving the consents needed to eliminate substantially all restrictive covenants, certain affirmative covenants and certain events of default. The amendments take effect only at the closing of the Skyworks mergers or upon settlement of Skyworks' exchange offers, and they end if the mergers are not completed.
- Skyworks is offering to exchange up to $850 million of Qorvo's 4.375% notes due 2029 and up to $700 million of its 3.375% notes due 2031 for new Skyworks notes.
- Qorvo received the requisite consents for both series of notes as of June 11, 2026.
- The supplemental indentures are binding now, but the amendments become operative only immediately before the Mergers or upon exchange settlement, depending on the amendment.
- The amendments will cease to be operative if the Mergers are not consummated.
Read the filing on SEC.gov ↗
Jun 8, 9:50 PM ET
Qorvo's Compensation Committee approved fiscal 2027 performance-based restricted stock units for its named executive officers on June 4, 2026, tied to non-GAAP operating income, gross margin and revenue targets. A separate retention award went to Philip J. Chesley, tied to organic HPA revenue growth. The awards tie executive pay to company financial targets, which bears on how management is incentivized, though the filing reports no change in leadership.
- Awards approved June 4, 2026; shares priced at $103.97, the Nasdaq closing price that day
- Targets weighted 50% non-GAAP operating income, 25% gross margin, 25% revenue; officers may earn up to 200% of target
- CEO Robert A. Bruggeworth's target is 33,183 shares for operating income, 16,591 each for gross margin and revenue
- Chesley's retention award totals 9,618 RSUs plus 9,618 PBRSUs; performance objectives stay in place after the pending Skyworks merger closes
Read the filing on SEC.gov ↗
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