Qorvo Inc of Greensboro, NC and Hillsboro, OR, USA, a provider of RF solutions for mobile, infrastructure and aerospace/defense applications, has completed its $400m share repurchase program, which was authorized by its directors last month.
Under this share repurchase program, Qorvo repurchased approximately 7.3m shares of common stock at an average price of $54.75 per share.
Qorvo's president and CEO, Bob Bruggeworth, said, "Qorvo repurchased $500 million of our common stock over a period of approximately thirty days. The Qorvo management team and board of directors believe that the rapid completion of this repurchase program is indicative of Qorvo's strong free cash flow and underscores our commitment to building stockholder value."
Since February this year, Qorvo has repurchased approximately $600m of its common stock, with approximately $500m expended in the September 2015 quarter, says the firm.
