Alpha And Omega Semiconductor Authorized Share Buyback Of $30 Mln

(RTTNews) - Alpha and Omega Semiconductor Ltd. (AOSL) Thursday announced that it is authorized to buyback up to $30 million of its common shares from time to time.

The share repurchase will be funded through existing cash reserves and ongoing cash from operations.

"This new share repurchase program reflects the Board and management team's confidence in the AOS's business strategy, financial performance and execution. With a strong balance sheet and disciplined approach to allocate our capital, we are well-positioned to continue investing in our business and technology while delivering value to our shareholders.", commented Stephen Chang, Chief Executive Officer of AOSL.

In pre-market activity, AOSL shares were trading at $19.52, up 2.74% on the Nasdaq.