Radio-frequency component and compound semiconductor company RF Micro Devices Inc of Greensboro, NC, USA says that its board of directors has authorized an extension of RFMD’s 2011 share repurchase program to repurchase up to $200m of the firm’s common stock through 31 January 2015.
Since January 2011, RFMD has repurchased $49.9m of its common stock under this program, leaving it with additional authorization of up to $150.1m under the program as a result of this extension.
RFMD’s share repurchase program authorizes the firm to repurchase shares from time to time through solicited or unsolicited transactions in the open market or in privately negotiated transactions. The number of shares to be purchased and the timing of the purchases will be based on market conditions and other factors. The program may be discontinued at any time.