RF front-end component maker and foundry services provider TriQuint Semiconductor Inc of Hillsboro, OR, USA has announced a program authorizing the repurchase of up to $75m of the firm’s common stock.
Under the program, stock repurchases may be made from time to time in the open market at prevailing market prices or through privately negotiated transactions at the discretion of company management. The timing of open market and privately negotiated purchases will be dependent on market conditions and other corporate considerations, including price, corporate and regulatory requirements and alternative investment opportunities. The firm is not obligated to repurchase any particular amount of common stock during any period and may choose to suspend or discontinue the repurchase program at any time.
Shares of common stock repurchased by TriQuint through the program will become authorized but unissued shares. As of 14 May, the firm has about 163.3 million shares of common stock outstanding.
