Monolithic Power Systems Announces $640M Stock Repurchase Program

Monolithic Power Systems, Inc. +0.10%

Monolithic Power Systems, Inc.




Monolithic Power Systems, Inc. ("MPS") (NASDAQ:MPWR), a fabless company with a global footprint that provides high-performance, semiconductor-based power electronic solutions, today announced its Board of Directors has approved a new stock repurchase program that authorizes MPS to repurchase up to $640 million in the aggregate of its common stock, which will expire on October 29, 2026.

The repurchases will be funded from available working capital and cash repatriation from its Bermuda subsidiary. Shares of common stock repurchased under the program will be retired. As of September 30, 2023, MPS had cash, cash equivalents and investments of $1.0 billion, and 48.7 million fully diluted weighted-average shares of common stock outstanding.

Stock repurchases under the program may be made through open market repurchases, privately negotiated transactions or other structures in accordance with applicable state and federal securities laws, at times and in amounts as management deems appropriate. The timing and the number of any repurchased common stock will be determined by MPS's management based on its evaluation of market conditions, legal requirements, share price, and other factors. Repurchases of common stock may be made under a Rule 10b5-1 plan. The repurchase program does not obligate MPS to purchase any particular number of shares and may be suspended, modified, or discontinued at any time without prior notice.

Every question you ask will be answered
Scan the QR code to contact us
Also you can contact us via