Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Skyworks Solutions, Inc. (SWKS)

Core Viewpoint - A securities class action lawsuit has been filed against Skyworks Solutions, Inc. for allegedly making false and misleading statements regarding its business and financial outlook during the class period from July 30, 2024, to February 5, 2025 [1][2]. Group 1: Allegations and Company Performance - The lawsuit claims that Skyworks' management misrepresented the company's revenue outlook and growth potential while downplaying risks associated with smartphone upgrade cycles and macroeconomic conditions [2]. - It is alleged that Skyworks' optimistic growth reports were overly reliant on its partnership with its largest customer and the launch of that customer's new phone, which the company was not adequately prepared for [2][3]. - The complaint highlights that Skyworks failed to warn investors about its dependence on this major customer and the potential impacts of seasonality and macroeconomic factors on profitability [3]. Group 2: Market Reaction - Following the release of disappointing first-quarter results and guidance for the second quarter on February 5, 2025, Skyworks' stock price plummeted from $87.08 to $65.60 per share, representing a decline of over 24% in just one day [4].