18 July 2013

Skyworks announces new $250m stock repurchase program

Analog semiconductor maker Skyworks Solutions Inc of Woburn, MA, USA says that its board of directors has authorized the repurchase of up to $250m of the firm’s common stock from time to time prior to 16 July 2015 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 $200m stock repurchase program that was approved by the board on 8 November 2012, and had $35.6m of repurchase authority remaining.

The timing and amount of any shares of the common stock that are repurchased will be determined by the firm’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 firm’s stock plans and for other corporate purposes.

Skyworks currently expects to fund the repurchase program using working capital. As of 28 June, the firm had cash and cash equivalents of about $400.3m.

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Skyworks announces new stock repurchase program

Tags: Skyworks

Visit: www.skyworksinc.com