The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of investors who purchased Skyworks Solutions, Inc. (“Skyworks” or the “Company”) (NASDAQ: SWKS) securities between July 30, 2024 to February 5, 2025, inclusive (the “Class Period”). Skyworks investors have until May 5, 2025 to file a lead plaintiff motion.

What Happened?

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.

What Is The Lawsuit About?

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.