Ceva, Inc. (NASDAQ: CEVA), the leading licensor of silicon and software IP that enables Smart Edge devices to connect, sense and infer data more reliably and efficiently, today announced that its Board of Directors authorized the expansion of the company’s share repurchase program with an additional 700,000 shares of common stock available for repurchase. As of September 30, 2024, Ceva had approximately 356,000 shares of common stock available for repurchase under the existing plan, bringing the aggregate to approximately 1,056,000 shares available for repurchase.
Amir Panush, CEO of Ceva, commented: “The share repurchase program expansion reflects the management and Board of Director’s confidence in the ongoing performance of Ceva’s business and long-term strategy to drive profitable growth. Our balance sheet remains strong and ensures we are well positioned to pursue non-organic growth opportunities while also returning capital to our shareholders.”
Under the share repurchase program, shares of the company’s common stock may be repurchased from time to time pursuant to Rule 10(b)-18 of the Securities Exchange Act of 1934, as amended outside of periods when the Company’s trading window is closed. Such repurchases may be made in the open market or through privately negotiated transactions depending on market conditions, share price, trading volume and other factors.
