News Article
Skyworks not flying so high with new stock repurchase program
The company currently expects to fund the repurchase program using its working capital
Skyworks Solutions, Inc. has authorised the repurchase of up to $250 million of the company's common stock from time to time prior to July 16th, 2015 on the open market or in privately negotiated transactions,
This is in compliance with applicable securities laws and other legal requirements.
This newly authorised stock repurchase program replaces in its entirety the $200 million stock repurchase program which was approved by the Board of Directors on November 8th, 2012, and had $35.6 million of repurchase authority remaining.
The timing and amount of any shares of the company’s common stock that are 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 its stock plans and for other corporate purposes.
The company currently expects to fund the repurchase program using the company's working capital. As of June 28th, 2013, the company says it had cash and cash equivalents of approximately $400.3 million.
