Skyworks Solutions approves buyback of up to $200 million of its common shares

Skyworks approves $200M share buyback

WOBURN, Mass. — Chip maker Skyworks Solutions Inc. said Thursday that its board approved a buyback of up to $200 million of its common shares.

The stock repurchases may be made in open-market or private deals, Skyworks said. It will pay for the plan with working capital. As of July 2 the company had cash and equivalents of about $390 million.

The company currently has about 175.5 million shares outstanding.

Skyworks shares fell 30 cents to $17.87 in afternoon trading.