Increasing a share repurchase program typically signals a company's belief in its own undervaluation and a commitment to returning value to shareholders. For CLFD, this substantial increase from $40 million to $65 million in its authorization for share repurchases could lead to a reduction in shares outstanding, potentially increasing earnings per share and the stock price in the short term. This move is often viewed positively by the market as it reflects confidence by the company's management in its financial stability and future prospects.