By Stephen Nakrosis
Power Integrations said its board has approved a new $50 million share-repurchase authorization, which follows the completion of its previous $50 million buyback plan.
Balu Balakrishnan, chairman and chief executive, said Power Integrations was using a strong balance sheet to buy back shares amid market volatility.
The semiconductor technologies company has a market cap of $3.08 billion, 56.85 million shares outstanding and a public float of 55.61 million shares.
The company's stock, which is down by some 4% year to date, closed Monday's regular session at $59.01, gaining 9%.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
May 12, 2025 18:25 ET (22:25 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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