UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Item 8.01 Other Events.
On January 26, 2021, the board of directors of Skyworks Solutions, Inc. (the “Company”), authorized the repurchase of up to $2.0 billion of the Company’s common stock from time to time prior to January 26, 2023, on the open market or in privately negotiated transactions, in compliance with applicable securities laws and other legal requirements. This newly authorized stock repurchase program replaces in its entirety the $2.0 billion stock repurchase program that was approved by the board of directors on January 30, 2019, and had approximately $783 million of repurchase authority remaining.
The timing and amount of any shares of the Company’s common stock that are repurchased under the new repurchase program will be determined by the Company’s management based on its evaluation of market conditions and other factors. The repurchase program may be suspended or discontinued at any time. The Company currently expects to fund the repurchase program using the Company’s working capital.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Skyworks Solutions, Inc. | ||||||||
| January 28, 2021 | By: | /s/ Kris Sennesael | ||||||
| Name: | Kris Sennesael | |||||||
| Title: | Senior Vice President and Chief Financial Officer | |||||||