Starboard Views Skyworks as Undervalued After Qorvo Combination

Starboard Value views Skyworks Solutions as undervalued following its combination with Qorvo, pointing to the businesses’ complementary product portfolios as a source of growth potential.

Skyworks completed the combination on Oct. 5. The combined company is roughly 63% owned by investors from Skyworks and 37% by investors from Qorvo.

Separately, Skyworks has set a target of at least $500 million in annual cost synergies. The company expects to reach that goal within 24 to 36 months after closing, once integration is complete.