NEW YORK - March 17, 2025 (NEWMEDIAWIRE) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Skyworks Solutions, Inc. (“Skyworks” or the “Company”) (NASDAQ: SWKS) on behalf of investors that purchased or otherwise acquired Skyworks securities between July 30, 2024 and February 5, 2025 (the “Class Period”).
If you are an investor in Skyworks and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than May 5, 2025 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.
The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Skyworks’ 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; and (ii) Skyworks oversold the company’s position and ability to capitalize on AI in the smartphone upgrade cycle.
On February 5, 2025, after market close, Skyworks announced its first quarter 2025 results. According to the complaint, Skyworks provided lower-than-anticipated revenue guidance and attributed its results and low guidance to a “competitive landscape” that had “intensified” in recent years. During the conference call to discuss its results, CFO Kris Sennesael stated as follows with respect to Skyworks’ “strategic partnership with [its] largest customer”:
“[T]he last couple of years have been challenging as the competitive landscape has intensified. As it relates to the upcoming phone cycle, expected to be launched in the fall of 2025, the Skyworks' team developed a suite of high-performance RF solutions. Despite our rich product offering, we did not get the result that we targeted. Although we were able to secure multiple sockets, including several highly integrated RF modules, our content position is expected to be down 20% to 25%.”
On this news, the price of Skyworks stock fell $21.48 per share, over 24%, to close at $65.60 per share on February 6, 2025.
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If you have any questions about this Notice, your rights, or your interests, please contact:
CONTACT:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com
Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.
https://www.kaplanfox.com/case/skyworks-solutions-inc/
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