PMC-Sierra (PMCS) Approves $275M Buyback

PMC-Sierra, Inc., (Nasdaq: PMCS) or PMC, the semiconductor innovator transforming storage, optical and mobile networks, today announced that its board of directors has authorized a new share repurchase program for up to $275 million of its common stock, reflecting the company’s strong balance sheet and free-cash-flow generation. PMC expects to fund the repurchases through the use of available cash resources.

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