Nov 17, 2014
SAN JOSE, Calif., Nov. 17, 2014 /PRNewswire/ -- Xilinx, Inc. (Nasdaq: XLNX) today announced that its Board of Directors has granted an authorization for the Company to repurchase up to $800 million of its common stock, or approximately 7 percent of its outstanding shares at the current stock price. Since fiscal 2010, the Company has repurchased approximately 50 million shares for approximately $1.6 billion. Timing of repurchases and exact number of shares of common stock to be purchased will depend upon prevailing market conditions and other factors.
"Xilinx continues to be committed to returning stockholder value through a combination of dividend and repurchase," said Moshe Gavrielov, Xilinx President and Chief Executive Officer. "Our repurchase authorization signals a high level of confidence in Xilinx's growth prospects as well as in our continued ability to consistently generate healthy operating cash flow."
This release contains forward-looking statements and projections. Forward-looking statements and projections can often be identified by the use of forward-looking words such as "expect," "believe," "may," "will," "could," "anticipate," "estimate," "continue," "plan," "intend," "project" or other similar expressions. Statements that refer to or are based on projections, uncertain events or assumptions also identify forward-looking statements. Such forward looking statements include, but are not limited to, statements related to the Company's growth prospects and cash-flow generation and the terms on which any common stock repurchases will be made, or whether any such repurchases will be made. Undue reliance should not be placed on such forward-looking statements and projections, which speak only as of the date they are made. We undertake no obligation to update such forward-looking statements. Actual events and results may differ materially from those in the forward-looking statements and are subject to risks and uncertainties including customer acceptance of our new products, current global economic conditions, the health of our customers and the end markets in which they participate, our ability to forecast end customer demand, a high dependence on turns business, our ability to continue to generate healthy operating cash flow, and other risk factors listed in our most recent Forms 10-Q and 10-K.
Xilinx develops All Programmable technologies and devices, beyond hardware to software, digital to analog, and single to multiple die in 3D ICs. These industry leading devices are coupled with a next-generation design environment and IP to serve a broad range of customer needs, from programmable logic to programmable systems integration. For more information, visit www.xilinx.com.
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