- MaxLinear Inc (NYSE: MXL) authorized a $100 million share buyback program.
- The program is slated to expire on February 16, 2024, and funded from available working capital. The company had cash and equivalents of $150.03 million as of December 31, 2020.
- “We are excited about our future as we continue to drive growth in our data connectivity and access platforms, 5G wireless infrastructure, high-speed optical data center interconnects, and power and industrial interfaces,” said MaxLinear CEO Kishore Seendripu, Ph.D. “The stock repurchase program we are announcing today demonstrates our confidence in our long-term growth prospects and commitment to delivering stockholder value,” added Seendripu.
- MXL stock has gained 122.8% in one year.
- Price action: MXL shares were higher by 3.75% at $41.50 in the pre-market session on the last check Wednesday.
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