S&P 500 slips, but losses kept in check as Nvidia climbs ahead of results
Skyworks Solutions, Inc. (NASDAQ:SWKS), a semiconductor company with a market capitalization of $11 billion and a strong financial health score according to InvestingPro, announced the results of its annual stockholder meeting held on May 14, 2025, as detailed in an 8-K filing with the Securities and Exchange Commission today. The company, currently trading near $73, maintains a healthy current ratio of 4.95x, indicating robust liquidity.
During the meeting, nine directors were elected to serve on the company’s board until the next annual meeting. The elected board members are Alan S. Batey, Kevin L. Beebe, Philip G. Brace, Eric J. Guerin, Christine King, Suzanne E. McBride, David P. McGlade, Robert A. Schriesheim, and Maryann Turcke. The voting results showed majority support for each nominee, with a significant number of votes cast in favor versus relatively few against or abstained.
Additionally, stockholders ratified the appointment of KPMG LLP as the independent registered public accounting firm for the fiscal year 2025. The advisory vote on executive compensation also passed, indicating shareholder approval of the company’s executive pay structure.
A stockholder proposal advocating for a simple majority vote was approved. However, another proposal regarding the disclosure of Scope 3 greenhouse gas emissions did not receive enough support to pass.
The filing also included reference to an exhibit with the Cover Page Interactive Data File, formatted in Inline XBRL.
Skyworks Solutions, based in Irvine, California, specializes in semiconductors and related devices, and the annual meeting’s outcomes are expected to guide the company’s governance and strategic direction for the upcoming year. The information is based on a press release statement.
In other recent news, Skyworks Solutions reported its second-quarter fiscal year 2025 financial results, surpassing Wall Street expectations with earnings per share of $1.24 and revenue of $953 million, both slightly above analysts’ forecasts. Despite this positive performance, CFRA downgraded Skyworks Solutions from Hold to Sell, setting a new price target of $61 due to concerns about the company’s future performance. Conversely, Stifel analysts raised their price target for Skyworks Solutions from $62 to $72, maintaining a Hold rating, following the company’s earnings report and improved guidance for the third quarter.
Skyworks Solutions projects third-quarter revenue between $920 million and $960 million, with a steady adjusted EPS of $1.24, reflecting cautious optimism amid a challenging market environment. The company continues to focus on growth areas such as Wi-Fi 7 and automotive connectivity, despite losing its single-source content position for two high-volume iPhone 17 platforms. Additionally, Skyworks Solutions announced executive changes, with Mark Dentinger appointed as the new CFO and Todd Lepinski as SVP. Analysts at Stifel expressed confidence in the new management, though they anticipate a multi-year turnaround for the company.
Meanwhile, Verastem (NASDAQ:VSTM) Oncology received FDA approval for avutometinib in combination with defactinib, targeting recurrent KRAS mutant low-grade serous ovarian cancer, marking a significant market opportunity estimated at $402 million in the U.S. The approval does not yet cover wild-type LGSOC, but broader adoption is anticipated pending potential inclusion in the NCCN guidelines, with a price target set at $19 by analysts. These developments highlight ongoing shifts and opportunities within the semiconductor and oncology sectors, providing investors with insights into potential growth trajectories.
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