Rambus‘s board of directors has approved a new stock repurchase program authorizing the repurchase of up to 20 million shares. According to the announcement, stock repurchases under the plan may be made through the open market, established plans, or privately negotiated transactions in accordance with all applicable securities laws, rules, and regulations.
For the benefit of its stockholders
Rambus develops foundational technology for all modern computing systems with 30 years of innovation. This new stock repurchase program replaces the existing program and cancels the 3.6 million shares outstanding as part of the previous authorization.
Luc Seraphin, president and chief executive officer at Rambus, said,
“The company has a long history of strong, sustained cash generation that provides a foundation for long-term growth, both organically and inorganically. The board’s decision to support a stock repurchase program underscores our commitment to managing our strong balance sheet for the benefit of our stockholders.”