Monolithic Power Systems announced its Board of Directors has approved a new stock repurchase program that authorizes MPS to repurchase up to $640 M in the aggregate of its common stock, which will expire on October 29, 2026. The repurchases will be funded from available working capital and cash repatriation from its Bermuda subsidiary. Shares of common stock repurchased under the program will be retired. As of September 30, 2023, MPS had cash, cash equivalents and investments of $1.0 billion, and 48.7 million fully diluted weighted-average shares of common stock outstanding.
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