Semtech Corp. completed an accelerated stock repurchase program valued at $169.4 million, the company announced. The Camarillo-based developer and manufacturer of semiconductors will hold the 9.8 million shares of its common shares as treasury stock. The repurchase was funded with existing cash. When the accelerated repurchase plan was announced in May, Semtech CEO Mohan Maheswaran explained it was being done to return value to shareholders. With the accelerated plan completed, the company resumes purchase of common share in value up to $50.3 million. Semtech shares closed at $15.13 per share.
