Item 8.01 Other Events.
On January 26, 2021, the board of directors of Skyworks Solutions, Inc. (the
"Company"), authorized the repurchase of up to $2.0 billion of the Company's
common stock from time to time prior to January 26, 2023, 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 $2.0 billion stock repurchase program that
was approved by the board of directors on January 30, 2019, and had
approximately $783 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. The Company
currently expects to fund the repurchase program using the Company's working
capital.
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