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Lattice Semiconductor Expands Stock Repurchase Program With New $250 Million Authorization
HILLSBORO, Ore.--(BUSINESS WIRE)-- Lattice Semiconductor Corporation (NASDAQ: LSCC), the low power programmable leader, today announced that its Board of
About this update from Lattice Semiconductor Corporation
[{"type":"text","content":" HILLSBORO, Ore.--(BUSINESS WIRE)--\nLattice Semiconductor Corporation (NASDAQ: LSCC), the low power programmable leader, today announced that its Board of Directors authorized the Company to repurchase up to an additional $250 million of its outstanding common stock through the end of December 2024. During the fourth quarter of 2023, the Company repurchased $50 million or approximately 900,000 shares. The Company has repurchased a total of approximately 4.8 million shares since the fourth quarter of 2020 thereby reducing dilution by 3.4%.\n\n\nSherri Luther, Chief Financial Officer, said, \"With our recent share repurchase in the fourth quarter of 2023, we have executed on our thirteenth consecutive quarter of share buybacks. This latest share repurchase program expansion that we are announcing today is an important component of our capital allocation program and reflects the financial strength of our business, confidence in our long-term financial model, and continued commitment to delivering shareholder value.”\n\n\nThe repurchase program expansion is effective immediately. Under the program, Lattice may purchase shares of its common stock through open market and privately negotiated transactions at prices deemed appropriate by management. The timing and amount of repurchase transactions under this program will depend on market conditions, share price, corporate and regulatory considerations, and other factors. The Company intends to conduct the program in compliance with Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The repurchase program may be suspended or discontinued by the Company at any time without prior notice.\n\n\nForward-Looking Statements Notice:\n\n\nThe foregoing paragraphs contain forward-looking statements that involve estimates, assumptions, risks and uncertainties. Any statements about our expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. Such forward-looking statements include, but are not limited to, statements relating to: the amount of our outstanding capital stock we plan to or will purchase under the repurchase program and the timing and methods to execute such repurchases, the financial strength of the Company’s business, and the Company’s ability to deliver value to stockholders. Other forward-...