Cadence Design Systems Said On Aug 2, Approved Repurchase Of Up To Additional $1B Of Co's Common Stock Under Existing Share Repurchase Program
Portfolio Pulse from Charles Gross
Cadence Design Systems has approved the repurchase of up to an additional $1B of the company's common stock under its existing share repurchase program.
August 04, 2023 | 12:45 pm
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POSITIVE IMPACT
Cadence Design Systems' decision to repurchase up to an additional $1B of its common stock could potentially increase the stock's value in the short term.
Stock repurchases often lead to a rise in the stock's price as they reduce the number of shares in circulation, thereby increasing earnings per share. This could make the stock more attractive to investors, potentially leading to an increase in demand and a rise in the stock's price.
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