Qorvo Inc. is a leading provider of core RF technologies and radio frequency solutions for mobile devices, defense & aerospace, edge IoT, automotive, and cellular infrastructure. The company has entered a definitive agreement to be acquired by Skyworks Solutions Inc. (SWKS) in a $22B combined enterprise value transaction.

• Advanced RF & Acoustic Wave Filters: High-performance BAW/SAW filtering and power amplifiers critical for multi-band 5G/6G, WiFi 7, and defense applications.
• Defense & Aerospace RF Leadership: High-margin non-mobile business with entrenched defense contracts and specialized GaAs/GaN semiconductor technology.
• Pending $22B Merger with Skyworks: Agreement to merge with Skyworks offers substantial scale benefits, $500M in cost synergies, and a $2.6B combined Broad Markets platform.

• Pending Merger with Skyworks Solutions (09/01/2026): Qorvo shareholders will receive $32.50 in cash and 0.96 SWKS shares per QRVO share in a transaction valued at $22B combined EV. Pro-forma combined ownership will be 63% SWKS / 37% QRVO. China SAMR regulatory review has entered Phase III (final stage), keeping the merger on track for CY2026 close.
• Starboard Value Voting Support (09/01/2026): Activist investor Starboard Value LP (holding an ~8% stake in Qorvo) signed a voting agreement supporting the acquisition by Skyworks.
• Edge AI & Broad Markets Ramps (09/01/2026): Accelerating content opportunities in edge AI endpoints, robotics, automotive, and defense, while de-emphasizing local Chinese OEM exposure.

• ⚠️ Low-Growth Smartphone Exposure: Mature smartphone RF market dynamics restrict organic top-line growth to low single digits.
• ⚠️ Regulatory Review Risk: Pending transaction requires approval from China's SAMR agency amid ongoing US-China tech trade tensions.
• ⚠️ Supply Chain & Component Inflation: Tightening memory supply and rising input costs weigh on consumer electronics device demand and gross margins.