Skyworks Beats the Dow in 2026 as Merger Rally Builds

Skyworks Solutions shares gained 40% year to date through September 16, outpacing the Dow Jones Industrial Average’s 8.3% rise, according to Barchart’s comparison. The chipmaker’s rally has accelerated in recent months.

Over the three months through September 16, Skyworks rose 22.5%, while the Dow posted only a small gain. Over the past 52 weeks, however, both delivered a 12.4% return, showing how much of Skyworks’ outperformance came recently.

The stock’s advance followed a rebound from earlier weakness. By September 16, shares had climbed 61.6% over six months and stood just below their 52-week high of $92.30, reached September 11.

Investors have had fresh reasons to focus on the business. Skyworks reported $935 million in fiscal third-quarter revenue in July, and CEO Phil Brace said mobile demand was healthy. Automotive and data-center sales helped drive growth in its broader markets business.

The pending combination with Qorvo has also drawn attention. At a September 10 investor conference, Brace said Skyworks expected the deal to close in 2026, though he noted the timing was not certain. U.S. antitrust waiting periods had expired without further action.

The companies announced the roughly $22 billion deal in 2025. Qorvo shareholders are set to receive $32.50 in cash and 0.96 Skyworks shares for each share they own. Skyworks has projected at least $500 million in annual cost savings after the businesses are integrated.

Investors are also weighing a change to Skyworks’ capital returns. In July, the company said it would stop quarterly dividends and approved a $2 billion share-repurchase program for the combined company. The merger’s closing, customer demand and delivery of promised savings are key tests for the rally.