TriQuint Launches New Share Buyback Program
May 15th 2013 5:31PM
Updated May 15th 2013 6:15PM
TriQuint Semiconductor is aiming to boost the value of its shares with a fresh repurchase scheme. The firm announced it has authorized the buyback of up to $75 million worth of its common stock. This will be bought "from time to time in the open market at prevailing market prices or through privately negotiated transactions at the discretion of Company management."
Once purchased, the stock will become authorized but unissued shares.
TriQuint's most recent closing stock price was $6.12, giving it a market cap of just under $1 billion. It currently has approximately 163 million shares outstanding.
The article TriQuint Launches New Share Buyback Program originally appeared on Fool.com.Fool contributor Eric Volkman has no position in TriQuint Semiconductor. The Motley Fool owns shares of TriQuint Semiconductor. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.