Qorvo Completes $400M Share Repurchase
US RF company Qorvo has completed a $400 million share repurchase program authorised by its board of directors in August 2015.
Under the August 2015 share repurchase program, Qorvo repurchased approximately 7.3 million shares of common stock at an average price of $54.75 per share.
Since February 2015, Qorvo has repurchased approximately $600 million of its common stock, with approximately $500 million expended in the September 2015 quarter.
Bob Bruggeworth, president and CEO of Qorvo, 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."
