11 November 2014

Skyworks announces new $300m stock repurchase program

Skyworks Solutions Inc of Woburn, MA, USA (which manufactures analog and mixed-signal semiconductors) says that its board of directors has authorized the repurchase of up to $300m of the firm’s common stock from time to time prior to 11 November 2016, on the open market or in privately negotiated transactions, in compliance with applicable securities laws and other legal requirements. The newly authorized stock repurchase program replaces in its entirety the $250m stock repurchase program that was approved by the board on 16 July 2013, and had $63.9m of repurchase authority remaining.

The timing and amount of any shares that are 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.

Skyworks currently expects to fund the repurchase program using its working capital. As of 3 October, the firm had cash and cash equivalents of about $805.8m.

See related items:

Skyworks' quarterly revenue grows 22% to record $718m

Tags: Skyworks

Visit: www.skyworksinc.com