Cypress Semiconductor (CY) Tops Q3 EPS by 1c; Issues Light Q4 Outlook
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Cypress Authorizes New $450 Million Stock Buyback Program
October 22, 2015 8:01 AM EDTSAN JOSE, Calif., Oct. 22, 2015 /PRNewswire/ --Â Cypress Semiconductor Corp. (Nasdaq: CY) today announced a new $450 million stock repurchase program for Cypress's common stock. Credit Suisse is providing a $400 million financing commitment (subject to customary terms and conditions) to fund the share repurchase program. The new authorization replaces the $400 million repurchase program authorized in September 2011, which was terminated by the Company in connection with the approval of the new program. Under the September 2011 program, the company repurchased $327 million of Cypress stock. The new authorization allows Cypress to purchase its common stock... More
