Lattice Semiconductor Expands Stock Repurchase Program With New $250 Million Authorization
30 Novembro 2023 - 6:00PM
Business Wire
Lattice 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%.
Sherri 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.”
The 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.
Forward-Looking Statements Notice:
The 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-looking statements may be indicated by words such as
“will,” “could,” “should,” “would,” “may,” “expect,” “plan,”
“project,” “anticipate,” “intend,” “forecast,” “future,” “believe,”
“estimate,” “predict,” “propose,” “potential,” “continue” or the
negative of these terms or other comparable terminology.
Actual results may differ materially from our expectations and
are subject to risks and uncertainties that relate more broadly to
our overall business, including those risks more fully described in
Lattice’s filings with the SEC including its Annual Report on Form
10-K for the fiscal year ended January 1, 2023, and Lattice’s
quarterly reports filed on Form 10-Q. Lattice believes these and
other risks and uncertainties could cause actual results to differ
materially from the forward-looking statements. You should not
unduly rely on forward-looking statements because actual results
could differ materially from those expressed in any forward-looking
statements. In addition, any forward-looking statement applies only
as of the date on which it is made. The Company does not intend to
update or revise any forward-looking statements, whether as a
result of events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
About Lattice Semiconductor
Lattice Semiconductor (NASDAQ: LSCC) is the low power
programmable leader. We solve customer problems across the network,
from the Edge to the Cloud, in the growing communications,
computing, industrial, automotive, and consumer markets. Our
technology, long-standing relationships, and commitment to
world-class support let our customers quickly and easily unleash
their innovation to create a smart, secure, and connected
world.
For more information about Lattice, please visit
www.latticesemi.com. You can also follow us via LinkedIn, Twitter,
Facebook, YouTube, WeChat, or Weibo.
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version on businesswire.com: https://www.businesswire.com/news/home/20231130161320/en/
MEDIA CONTACT: Sophia Hong Lattice Semiconductor
503-268-8786 Sophia.Hong@latticesemi.com INVESTOR CONTACT:
Rick Muscha Lattice Semiconductor 408-826-6000
Rick.Muscha@latticesemi.com
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