Skyworks Announces $1 Billion Share Repurchase Program

Skyworks Solutions, Inc. (SWKS) announced on February 5 that its Board of Directors authorized a new share repurchase program. This repurchase program replaces a $500 million share repurchase program that had been authorized on January 17, 2017, and had about $2 million left unused. The new program authorizes up to $1 billion of share repurchases through January 31, 2020.

 

Sonal detected the event at 4:15 pm on February 5. The next trade took place at 4:16 pm for $100. Regular market trading opened the next morning at $102. The stock price spiked up over $106 before fading over the next hour of trading. Skyworks stock then continued to trend higher throughout the day before closing at $104.56.

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