A securities class action has been filed in the USDC –C.D.CA. against Skyworks Solutions, Inc. (SWKS) (“Skyworks” or the “Company”) on behalf of all persons or entities who purchased or otherwise acquired Skyworks common stock between July 30, 2024, and February 5, 2025 (the “Class Period”).
Skyworks is a developer, manufacturer, and provider of analog and mixed-signal semiconductor products and solutions for numerous applications, including aerospace, automotive, broadband, cellular infrastructure, connected home, defense, entertainment and gaming, industrial, medical, smartphone, tablet, and wearables.
The Complaint alleges that the Defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Skyworks’ client base; notably, that 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. Additionally, Defendants oversold Skyworks’ position and ability to capitalize on AI in the smartphone upgrade cycle. Such statements absent these material facts caused Plaintiff and other shareholders to purchase Skyworks’ securities at artificially inflated prices.
As a result of Skyworks’ announcement of the financial results for the first quarter of fiscal year 2025, from a closing market price of $87.08 per share on February 5, 2025, Skyworks’ stock price fell to $65.60 per share on February 6, 2025, a decline of over 24% in the span of just a single day.
If you purchased Skyworks common stock during the Class Period, and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.