Microchip Technology Incorporated Buyback
OLI recorded this information on 11/8/2021
Company:
Microchip Technology Incorporated
Buyback:
MCHP buyback
$Amount Authorized:
$4,000,000,000
Buyback Details:
Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today announced that its Board of Directors has authorized the Company to purchase up to $4.0 billion of its common stock in the open market or in privately negotiated transactions including under Rule 10b-18. This new program replaces the Company's prior program to repurchase up to 30 million shares of common stock. Microchip expects to fund repurchases through available cash flow from operations after capital expenditures and dividend payments.
Microchip Technology develops, manufactures and sells smart, connected and secure embedded control solutions. Co.'s product portfolio is a Total System Solution (TSS) for its customers that can provide a portion of the silicon requirements in their applications. TSS is a combination of hardware, software and services. Co. provides a family of proprietary general purpose mixed-signal microcontroller products marketed under multiple brand names. Co. also provides other mixed-signal microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity and wireless connectivity applications.
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Avg. Broker Rec.
 
|
Buy (3.48 out of 4) 55th percentile
(ranked higher than approx. 55% of all stocks covered)
Analysts' Target Price: MCHP Stock Forecast Based on Zacks ABR data; powered by Xignite |
