Monolithic Power Systems Announces $640M Stock Repurchase Program
Portfolio Pulse from Benzinga Newsdesk
Monolithic Power Systems, Inc. (MPS) has announced a new stock repurchase program that authorizes the company to repurchase up to $640 million of its common stock. The program will be funded from available working capital and cash repatriation from its Bermuda subsidiary. The repurchases will be made through open market repurchases, privately negotiated transactions or other structures, and may be suspended, modified, or discontinued at any time.
October 30, 2023 | 8:44 pm
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Monolithic Power Systems' new stock repurchase program could potentially increase the company's stock price in the short term as it reduces the number of shares in circulation.
Stock repurchase programs often lead to an increase in the stock 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 price.
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