TriQuint Launches New Share Buyback Program
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.
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