Silicon Labs' Board of Directors Authorizes Additional $200 Million Share Repurchase

Rhea-AI Summary

On August 29, 2022, Silicon Labs (NASDAQ: SLAB) announced an increase in its stock repurchase program by $200 million, resulting in a total authorization of $450 million. This initiative reinforces the company's commitment to enhancing shareholder value. Originally introduced on July 27, 2022, the buyback program aims to return capital to shareholders and support the stock price, reflecting confidence in the company's future prospects.

Positive

• Increased stock repurchase authorization to $450 million.
• Shareholder value enhancement through stock buyback.

Negative

• None.

AUSTIN, Texas , Aug. 29, 2022 /PRNewswire/ -- Silicon Labs (NASDAQ: SLAB), a leader in secure, intelligent wireless technology for a more connected world, today announced that its board of directors has increased the authorization for the repurchase of the company's common stock by $200 million. Originally announced on July 27, 2022, the stock repurchase program is now authorized for a total of $450 million.

Silicon Labs

Silicon Labs (NASDAQ: SLAB) is a leader in secure, intelligent wireless technology for a more connected world. Our integrated hardware and software platform, intuitive development tools, thriving ecosystem, and robust support make us an ideal long-term partner in building advanced industrial, commercial, home and life applications. We make it easy for developers to solve complex wireless challenges throughout the product lifecycle and get to market quickly with innovative solutions that transform industries, grow economies, and improve lives. silabs.com

Note to editors: Silicon Laboratories, Silicon Labs, the "S" symbol, the Silicon Laboratories logo and the Silicon Labs logo are trademarks of Silicon Laboratories Inc. All other product names noted herein may be trademarks of their respective holders.

 

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SOURCE Silicon Labs

FAQ

What is the total stock repurchase authorization for Silicon Labs as of August 29, 2022?

The total stock repurchase authorization for Silicon Labs is $450 million.

What was the amount of the recent increase in Silicon Labs' stock buyback program?

The recent increase in Silicon Labs' stock buyback program was $200 million.

What is the significance of the stock repurchase program for SLAB shareholders?

The stock repurchase program aims to enhance shareholder value by reducing the number of outstanding shares.

When was the initial stock buyback program for Silicon Labs announced?

The initial stock buyback program for Silicon Labs was announced on July 27, 2022.