Monolithic Power Systems, Inc. (NASDAQ: MPWR) said that its board of directors has approved a stock repurchase program that authorizes MPS to repurchase up to $50 million dollars in the aggregate of its common stock between August 2, 2010 and December 31, 2011. The company said that repurchases will be funded from available working capital. As of June 3, 2010, MPS reported cash, cash equivalents and investments of around $209 million, and around 38.4 million diluted weighted average shares of common stock outstanding.
California-based Monolithic Power Systems develops and markets proprietary, analog and mixed-signal semiconductors. The company makes power management integrated circuits (ICs) for DC to DC converters, LED drivers, Cold Cathode Fluorescent Lamp (CCFL) backlight controllers, Class D audio amplifiers, and Linear ICs. MPS products are used in computing and network communications products, LCD monitors and TVs, and a range of consumer and portable electronics products.
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