Skyworks board authorizes up to $2B stock buyback

Skyworks (SWKS)’ board of directors has authorized the repurchase of up to $2 billion of the Company’s common stock from time to time through Feb. 3, 2027, on the open market or in privately negotiated transactions, in compliance with applicable securities laws and other legal requirements. This newly authorized stock repurchase program succeeds in its entirety the stock repurchase program that was approved by the board of directors on Jan. 31, 2023. The timing and amount of any shares of the Company’s common stock that are repurchased under the new repurchase program will be determined by the Company’s management based on its evaluation of market conditions and other factors. The repurchase program may be suspended or discontinued at any time. The Company currently expects to fund the repurchase program using the Company’s working capital. As of Dec. 27, 2024, the Company had cash and marketable securities of approximately $1.75 billion.