Silicon Labs board authorizes additional $50 million for existing stock buyback program
AUSTIN, TX, November 1, 2022 /PRNewswire/ — Silicon Labs (NASDAQ: SLAB), a leader in secure and intelligent wireless technologies for a more connected world, today announced that its board of directors has increased by an additional amount the authorization to repurchase of ordinary shares of the company $50 million. Originally announced on July 27, 2022and then increased to August 29, 2022the share buyback program has a remaining authorized amount of $300 millionincluding this increment $50 million. The authorization remains in force until December 30, 2023.
“Silicon Labs’ proven cash-generating ability and strong liquidity position provide the company with the flexibility to invest in future growth while returning capital to its shareholders through ongoing share buybacks” , said John HollisterSenior Vice President and Chief Financial Officer of Silicon Labs.
Silicon Labs (NASDAQ: SLAB) is a leader in secure, intelligent wireless technology for a more connected world. Our integrated hardware and software platform, intuitive development tools, thriving ecosystem, and robust support make us an ideal long-term partner for building advanced industrial, commercial, home, and life applications. We enable developers to easily solve complex wireless challenges throughout the product lifecycle and get to market quickly with innovative solutions that transform industries, grow economies and improve lives. silabs.com
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SOURCE Silicon Laboratories