Synopsys replenishes stock repurchase authorization to $500 million

MOUNTAIN VIEW, USA: Synopsys Inc. announced that its board of directors has replenished its stock repurchase authorization. Under the replenished program, the company may repurchase Synopsys common stock with a market value up to $500 million.

"During the last four quarters, we have repurchased more than 14.5 million shares of Synopsys stock," said Brian Beattie, chief financial officer of Synopsys. "Replenishing the authorization demonstrates our board's confidence in the long-term growth of our business."

Purchases may be made beginning immediately and ending at such time as the authorized funds are spent or the program is discontinued. The program does not obligate Synopsys to acquire any particular amount of common stock, and the program may be modified or suspended at any time at Synopsys' discretion.