|TriQuint Announces $50 Million Stock Repurchase Program |
HILLSBORO, Ore., May 03, 2012 (BUSINESS WIRE) -- TriQuint Semiconductor, Inc.
(TQNT), a leading RF solutions supplier and technology innovator, today announced
a program authorizing the repurchase of up to $50 million of the Company's common
stock through May 2, 2013.
Under this program, stock repurchases may be made from time to time in the open
market at prevailing market prices or through privately negotiated transactions
at the discretion of Company management. The timing of open market and privately
negotiated purchases will be dependent on market conditions and other corporate
considerations, including price, corporate and regulatory requirements and
alternative investment opportunities. The program is expected to be funded from
existing cash balances and cash generated from operations. The Company is not
obligated to repurchase any particular amount of common stock during any period
and may choose to suspend or discontinue the repurchase program at any time.
Shares of common stock repurchased by the Company through the repurchase program
will become authorized but unissued shares. As of May 3, 2012, the Company has
approximately 168.2 million shares of common stock outstanding.