11 August 2015

Qorvo completes $200m share repurchase program; board approves additional $400m program

Qorvo Inc, a provider of core technologies and RF solutions for mobile, infrastructure and aerospace/defense applications, has completed its $200m share repurchase program (authorized by its board of directors in February), under which the firm repurchased about 3.1 million shares of common stock at an average price of $63.80 per share.

Qorvo also announced that its board has authorized a new share repurchase program to repurchase up to $400m of its common stock.

"Qorvo has excellent long-term growth prospects, a healthy balance sheet and the ability to generate increasing free cash flow," says president & CEO Bob Bruggeworth. "The Qorvo board of directors and management team believe the repurchase of our common stock is an excellent use of capital that creates additional value for our stockholders."

Under the new program, share repurchases will be made in accordance with applicable securities laws either on the open market or in privately negotiated transactions. The extent to which Qorvo repurchases its shares, the number of shares, and the timing of any repurchases will depend on general market conditions, regulatory requirements, alternative investment opportunities and other considerations. The program does not require Qorvo to repurchase a minimum number of shares, and it may be modified, suspended or terminated at any time without prior notice.

See related items:

Qorvo's quarterly revenue grows 6% as mobile products growth outweighs 40% drop in wireless infrastructure

Qorvo announces $200m share repurchase program

Merger of RFMD and TriQuint as Qorvo now completed

Tags: Qorvo RFMD TriQuint

Visit: www.qorvo.com