Littelfuse Board Approves Stock Repurchase Program Of Up To $300M
Portfolio Pulse from Benzinga Newsdesk
The board of Littelfuse has approved a stock repurchase program allowing the company to buy back up to $300 million of its shares. This move is part of the company's strategy to return value to its shareholders and potentially increase the earnings per share by reducing the number of shares outstanding.
April 30, 2024 | 9:17 pm
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Littelfuse's new $300 million stock repurchase program could lead to an increase in the company's share price in the short term by reducing the supply of shares available in the market and potentially improving earnings per share.
Stock repurchase programs often lead to an increase in the share price as they reduce the number of shares available in the market, making each share more valuable. Additionally, by reducing the number of shares outstanding, earnings per share (EPS) may increase, making the stock more attractive to investors. Given the size of the buyback program relative to Littelfuse's market capitalization, this move is likely to have a positive impact on the stock price in the short term.
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