MaxLinear announces $75 million stock buyback program

MaxLinear Inc. (NASDAQ: MXL) announced that its board of directors has authorized a share repurchase program for up to $75 million of the company's common stock.

The semiconductor company stated that the timing and amount of any repurchase transactions will be determined by management based on market and economic conditions, the trading price of MaxLinear's stock, and other corporate considerations. Purchases will be funded from available working capital and may be conducted through open market transactions, privately negotiated transactions, or other methods.

The repurchase authorization expires on November 20, 2028. The program does not require the company to acquire any specific amount of common stock and may be modified or suspended at management's discretion.

"The stock repurchase program we are announcing today demonstrates our confidence in our long-term growth prospects and commitment to delivering stockholder value," said Kishore Seendripu, MaxLinear's Chairman and Chief Executive Officer.

MaxLinear provides radio frequency, analog, digital and mixed-signal integrated circuits for connectivity and access, wired and wireless infrastructure, and industrial applications. The company is headquartered in Carlsbad, California.

The announcement was made through a company press release.

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