Los Altos-Based Rambus to Buy Back 5 Million More Shares

Los Altos, Calif. -- Rambus, a Los Altos-based a licensor of high-speed chip interfaces, said on Monday that it has received approval from its board to buy back another 5 million shares of company stock over an undefined period of time. That's on top of the 1.6 million shares the company can still repurchase under its current plan. "Our strong balance sheet and cash generation capability allow us to simultaneously invest in our current business and repurchase stock," said Harold Hughes, the president and CEO of Rambus. Since late 2001, Rambus has repurchased 12.5 million shares of its stock at an average price of $13.05. The company's stock opened on Monday at $34.04 a share.
http://www.rambus.com/news/pressrelease.aspx?id=108