Skyworks Solutions Unveils New $300 Mln Stock Buyback Program

(RTTNews) - Skyworks Solutions, Inc. (SWKS) said Tuesday that its Board of Directors has authorized the repurchase of up to $300 million of the company's common stock from time to time prior to November 11, 2016.

The newly authorized stock repurchase program replaces in its entirety the $250 million stock repurchase program which was approved by the company's Board of Directors on July 16, 2013, and had $63.9 million of repurchase authority remaining.

The company currently expects to fund the repurchase program using its working capital. As of October 3, the company had cash and cash equivalents of about $805.8 million.