Skyworks Solutions Stock Surges on Royal Bank Price Target Hike
Skyworks Solutions stock surged on October 2, 2026, after Royal Bank of Canada raised its price target to USD 95. This move follows the company's progress in obtaining regulatory clearances for its proposed combination with Qorvo.
The new target is 11.72 percent above Skyworks' closing price of USD 85.03 on Nasdaq. However, the broader consensus among analysts remains cautious, with a Hold rating and an average target of USD 75.32, which is 11.42 percent below the current price.
Despite delivering adjusted earnings per share (EPS) of USD 1.08 in fiscal third-quarter 2026, beating expectations by USD 0.05, Skyworks' revenue declined 3.1 percent from the comparable quarter. The promised scale benefits from the merger remain a central issue for the stock.
The proposed Qorvo merger is expected to close on or about October 5, 2026, subject to customary conditions being met. This will be a key test for Skyworks Solutions stock, which has traded between USD 82.08 and USD 86.53 on October 2, 2026.