27 July 2015

Microsemi announces second $100m stock repurchase program as capital allocation plan continues

Microsemi Corp of Aliso Viejo, CA, USA (which designs and makes analog and RF devices, mixed-signal integrated circuits and subsystems for communications, defense & security, aerospace and industrial markets) says that its board of directors has authorized a new share buyback plan for the repurchase of up to $100m of the firm's common stock.

The timing and amount of repurchase transactions under the program will depend on market conditions and corporate and regulatory decisions, as well as completion of Microsemi's existing $100m share buyback program announced on 10 September 2014, under which the company has purchased about $60.5m in stock through 23 July 2015. The purchases for both programs will be funded from available working capital.

The new authorization permits the firm to repurchase up to $100m of common stock before 31 July 2017. The program does not obligate the company to acquire any particular amount of common stock, and may be modified or suspended at any time at the company's discretion.

See related items:

Microsemi acquiring Centellax; announces $100m stock repurchase program

Tags: Microsemi

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