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The merger with Qorvo could significantly enhance Skyworks' market position and revenue base, similar to past successful mergers in the tech sector which often led to increased stock prices post-announcement.
What happened, with direct paths to the underlying reporting
Qorvo and Skyworks announced a $22 billion merger deal. SWKS shareholders will receive cash and shares in the merger. Skyworks reported $1.10 billion in revenue and adjusted EPS of $1.76. Analysts upgraded SWKS price targets post-announcement to $88 and $91. SWKS shares gained 5.8% to close at $80.26.
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