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Qorvo, Inc. (NASDAQ:QRVO) and Skyworks Solutions, Inc. (NASDAQ:SWKS) announced a deal to merge at approximately $22 billion on Tuesday.
The deal is structured as a cash-and-stock transaction, where Qorvo shareholders will receive $32.50 cash and 0.960 of a Skyworks share for each share they hold.
Skyworks has secured debt financing commitments from Goldman Sachs Bank USA and will use cash on hand to fund the deal.
SWKS company sees $1.10 billion in revenue and adjusted EPS of $1.76 in the fourth quarter. The quarter generated $200 million in operating cash flow and included a dividend declaration of $0.71 per share in the quarter.
Skyworks Solutions shares gained 5.8% to close at $80.26 on Tuesday.
These analysts made changes to their price targets on Skyworks Solutions following the announcement.
Considering buying SWKS stock? Here’s what analysts think:

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