MaxLinear, Inc. (NASDAQ: MXL) has announced a $75 million share repurchase plan, demonstrating confidence in its long-term growth prospects and commitment to delivering shareholder value. The company's board of directors has authorized the repurchase of up to $75 million of its common stock, with the program set to expire on November 20, 2028.
MaxLinear is a leading provider of radio frequency (RF), analog, digital, and mixed-signal integrated circuits for various applications, including connectivity and access, wired and wireless infrastructure, and industrial and multi-market applications.
In the words of Kishore Seendripu, Ph.D., MaxLinear's Chairman and CEO, the company is excited about its future as it continues to drive growth in data center optical interconnects, wireless infrastructure, PON broadband access, Wi-Fi 7, Ethernet, and storage accelerator products.
The announcement comes as the company seeks to capitalize on its growth prospects, with the share repurchase program signaling a continued focus on delivering value to its shareholders.
It's important to note that the timing and amount of repurchase transactions will be at the discretion of management, depending on various factors such as market and economic conditions, the trading price of MaxLinear's common stock, and other relevant corporate considerations.
The share repurchase program does not obligate the company to acquire any particular amount of common stock and may be modified or suspended at any time at the company's discretion.
No specific details about the company's financial performance or stock metrics were provided in the press release. The market has reacted to these announcements by moving the company's shares 7.72% to a price of $14.65. For more information, read the company's full 8-K submission here.
