Skyworks Solutions, Inc.
| Company Name | Skyworks Solutions, Inc. |
| Stock Symbol | SWKS |
| Class Period | July 30, 2024 to February 05, 2025 |
| Lead Plaintiff Motion Deadline | May 05, 2025 |
On February 5, 2025, Skyworks released its first quarter 2025 financial results, reporting a greater than anticipated decline in quarterly revenue and providing lower guidance for the second quarter than expected. The Company attributed the results to a “competitive landscape” that had “intensified” in recent years.
On this news, Skyworks’ stock price fell $21.48, or 24.7%, to close at $65.60 per share on February 6, 2025, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) its long-standing relationship with Apple, its largest customer, did not guarantee that Apple would maintain its business relationship with Skyworks for its anticipated iPhone launch; (2) Defendants oversold Skyworks’ position and ability to capitalize on AI in the smartphone upgrade cycle; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
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