Rambus approves plan to repurchase up to 12.5 million shares

Rambus board approves buyback plan

LOS ALTOS, Calif. — Rambus Inc., which designs memory chips, said Thursday its board has approved a plan to repurchase up to 12.5 million shares.

As of Sept. 30, the company had about 105.4 million shares outstanding, according to its most recent 10-Q quarterly filing.

Shares closed down 9 cents at $21.48.