Here are some of the week's biggest share-buyback announcements, all first covered on InvestingPro.
Wix.Com (NASDAQ:WIX) announced that the Israeli court authorized it to extend its share-repurchase program for an additional six months, through July 4, 2023, for the repurchase of up to $110 million of company ordinary shares and/or convertible notes. This allows buyback of up to the $57 million remaining balance from its existing $300 million repurchase program; the company would need additional board authorization to use the entire $110 million authorized by the court.
InterDigital Inc (NASDAQ:IDCC) announced on Tuesday that the company’s board has authorized about a $333 million increase to the outstanding amount of the company’s existing stock repurchase program to a total of $400 million.
The company also announced that it has signed an HEVC and VVC patent license with LG Electronics and agreed to renew its patent license agreement with Samsung (KS:005930) Electronics (OTC:SSNLF). Shares gained more than 17% this week.
Collegium Pharmaceutical Inc (NASDAQ:COLL) announced a new $100 million share-repurchase program for 2023. Shares gained more than 23% this week after the company announced its 2023 full-year financial guidance and provided a business update on Wednesday.
Immersion Corporation (NASDAQ:IMMR) announced a new $50 million stock repurchase program for 2023 to replace its 2022 program, under which the company repurchased a total of 2,542,065 shares (approximately 7.4% of shares outstanding as of December 31, 2021).
The board also declared a special one-time dividend of 10 cents per share, in addition to a new recently declared quarterly dividend program of 3 cents per share, and Executive Chairman Eric Singer has been appointed CEO. Shares gained more than 8% this week.
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