TriQuint Launches New Share Buyback Program

The company will spend up to $75 million to snag its own stock.

Eric Volkman
Eric Volkman
May 15, 2013 at 5:31PM
Technology and Telecom

TriQuint Semiconductor (UNKNOWN:TQNT.DL) 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.