Xilinx Announces $800 Mln Stock Buyback Authorization

(RTTNews) - Xilinx, Inc. (XLNX) said Monday that its Board of Directors has granted an authorization for the company to repurchase up to $800 million of its common stock, or about 7% of its outstanding shares at the current stock price.

Since fiscal 2010, the company has repurchased about 50 million shares for about $1.6 billion.

"Xilinx continues to be committed to returning stockholder value through a combination of dividend and repurchase," said Moshe Gavrielov, Xilinx President and Chief Executive Officer. "Our repurchase authorization signals a high level of confidence in Xilinx's growth prospects as well as in our continued ability to consistently generate healthy operating cash flow."