Wednesday, May 15, 2013

TriQuint Launches New Share Buyback Program

TriQuint Semiconductor (NASDAQ: TQNT  ) 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.

More Expert Advice from The Motley Fool
The Motley Fool's chief investment officer has selected his No. 1 stock for the next year. Find out which stock in our brand-new free report: "The Motley Fool's Top Stock for 2013." I invite you to take a copy, free for a limited time. Just click here to access the report and find out the name of this under-the-radar company.

No comments:

Post a Comment