Skyworks Announces New $2 Billion Stock Repurchase Program

IRVINE, Calif.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24SWKS&src=ctag” target=”_blank”gt;$SWKSlt;/agt; lt;a href=”https://twitter.com/hashtag/ConnectingEverything?src=hash” target=”_blank”gt;#ConnectingEverythinglt;/agt;–Skyworks Solutions, Inc. (NASDAQ: SWKS), an innovator of high
performance analog semiconductors connecting people, places and things,
today announced that its Board of Directors has authorized the
repurchase of up to $2 billion of the Company’s common stock from time
to time prior to January 30, 2021, on the open market or in privately
negotiated transactions, in compliance with applicable securities laws
and other legal requirements. This newly authorized stock repurchase
program replaces in its entirety the $1 billion stock repurchase program
that was approved by the Board of Directors on January 31, 2018, and had
approximately $129 million of repurchase authority remaining.

The timing and amount of any shares of the Company’s common stock that
are repurchased under the new repurchase program will be determined by
the Company’s management based on its evaluation of market conditions
and other factors. The repurchase program may be suspended or
discontinued at any time. Any repurchased shares will be available for
use in connection with the Company’s stock plans and for other corporate
purposes.

The Company currently expects to fund the repurchase program using the
Company’s working capital. As of December 28, 2018, the Company had cash
and marketable securities of $1.1 billion.

About Skyworks

Skyworks Solutions, Inc. is empowering the wireless networking
revolution. Our highly innovative analog semiconductors are connecting
people, places and things spanning a number of new and previously
unimagined applications within the aerospace, automotive, broadband,
cellular infrastructure, connected home, industrial, medical, military,
smartphone, tablet and wearable markets.

Skyworks is a global company with engineering, marketing, operations,
sales and support facilities located throughout Asia, Europe and North
America and is a member of the S&P 500® and Nasdaq-100® market indices
(NASDAQ: SWKS). For more information, please visit Skyworks’ website at: www.skyworksinc.com.

Safe Harbor Statement

This news release includes “forward-looking statements” intended to
qualify for the safe harbor from liability established by the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements include without limitation information relating to the amount
and timing of repurchases and our expectations with respect to the use
of repurchased shares. Forward-looking statements can often be
identified by words such as “anticipates,” “expects,” “forecasts,”
“intends,” “believes,” “plans,” “may,” “will,” or “continue,” and
similar expressions and variations or negatives of these words. All such
statements are subject to certain risks, uncertainties and other
important factors that could cause actual results to differ materially
and adversely from those projected, and may affect our future operating
results, financial position and cash flows.

These risks, uncertainties and other important factors include, but are
not limited to: the susceptibility of the semiconductor industry and the
markets addressed by our, and our customers’, products to economic
downturns; our reliance on several key customers for a large percentage
of our sales; the volatility of our stock price; declining selling
prices, decreased gross margins, and loss of market share as a result of
increased competition; our ability to obtain design wins from customers;
economic, social, military and geo-political conditions in the countries
in which we, our customers or our suppliers operate, including security
and health risks, imposition of trade protection measures (e.g., tariffs
or taxes), increased import/export restrictions and controls, and
possible disruptions in transportation networks and fluctuations in
foreign currency exchange rates; changes in laws, regulations and/or
policies that could adversely affect our operations and financial
results, the economy and our customers’ demand for our products, or the
financial markets and our ability to raise capital; fluctuations in our
manufacturing yields due to our complex and specialized manufacturing
processes; our ability to develop, manufacture and market innovative
products, avoid product obsolescence, reduce costs in a timely manner,
transition our products to smaller geometry process technologies, and
achieve higher levels of design integration; the quality of our products
and any defect remediation costs; the availability and pricing of
third-party semiconductor foundry, assembly and test capacity, raw
materials and supplier components; our ability to retain, recruit and
hire key executives, technical personnel and other employees in the
positions and numbers, with the experience and capabilities, and at the
compensation levels needed to implement our business and product plans;
the timing, rescheduling or cancellation of significant customer orders
and our ability, as well as the ability of our customers, to manage
inventory; our ability to prevent theft of our intellectual property,
disclosure of confidential information, or breaches of our information
technology systems; uncertainties of litigation, including potential
disputes over intellectual property infringement and rights, as well as
payments related to the licensing and/or sale of such rights; our
ability to continue to grow and maintain an intellectual property
portfolio and obtain needed licenses from third parties; our ability to
make certain investments and acquisitions, integrate companies we
acquire, and/or enter into strategic alliances; and other risks and
uncertainties, including, but not limited to, those detailed from time
to time in our filings with the Securities and Exchange Commission.

The forward-looking statements contained in this news release are made
only as of the date hereof, and we undertake no obligation to update or
revise the forward-looking statements, whether as a result of new
information, future events or otherwise.

Note to Editors: Skyworks and the Skyworks symbol are trademarks or
registered trademarks of Skyworks Solutions, Inc. or its subsidiaries in
the United States and other countries. Third-party brands and names are
for identification purposes only, and are the property of their
respective owners.

Contacts

Media Relations:
Pilar Barrigas
(949) 231-3061

Investor Relations:
Mitch Haws
(949) 231-3223