11 November 2015

Skyworks announces new $400m 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 $400m of the firm's common stock from time to time prior to 10 November 2017, 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 $300m stock repurchase program that was approved by the board on 11 November and had $62.6m of repurchase authority remaining.

The timing and amount of any shares repurchased 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. 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 its working capital. As of 2 October, the company had cash and cash equivalents of about $1043.6m.

See related items:

Skyworks exceeds quarterly revenue and EPS guidance

Skyworks doubles quarterly dividend

Tags: Skyworks

Visit: www.skyworksinc.com