News

5 August 2010

 

Skyworks announces $200m stock repurchase program

Skyworks Solutions Inc of Woburn, MA, USA, which makes linear products, power amplifiers, front-end modules and radio solutions for handset and infrastructure equipment, says that its board of directors has authorized the repurchase of up to $200m of its common stock from time to time, either on the open market or in privately negotiated transactions.

The timing and amount of any shares repurchased will be determined by 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 its stock plans and for other corporate purposes.

The repurchase program will be funded using the firm’s working capital. As of 2 July (the end of fiscal third-quarter 2010), Skyworks had cash, cash equivalents and temporary investments of about $390m.

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