Semtech Announces Additional $50 Million Stock Buyback.CAMARILLO, Calif. -- Semtech Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :SMTC SMTC Southern Maine Technical College SMTC Science/Mathematics/Technology Center (Central Michigan University) SMTC Saluda Mountain Telephone Company (Knoxville, Tennessee) SMTC Short-To-Medium Term Control ) today announced that its Board of Directors has authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: an additional $50 million for the Company's current stock buyback Stock buyback A corporation's purchase of its own outstanding stock, usually in order to raise the company's earnings per share. stock buyback See buyback. program. The program authorizes the repurchase of common stock from time to time through negotiated or open market transactions. To date, the Company has purchased almost $100 million worth of common stock under this program that was established in February 2004. About Semtech Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors used in a wide range of computer, industrial and communication applications. Publicly traded since 1967, Semtech is listed on the Nasdaq National Market under the symbol SMTC. |
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