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 companys 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 Directors confidence in the ongoing performance of Cevas 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 companys common stock may be repurchased from time to time pursuant to Rule 10b-18 of the Securities Exchange Act of 1934, as amended outside of periods when the Companys 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.
