Linear Tech Authorizes Purchase Of Up To 20 Million Shares Of Outstanding Common Stock

Linear Technology Corp. announced that its Board of Directors authorized the company to purchase up to 20 million shares of its outstanding common stock in the open market over the next two years.

According to Lothar Maier, CEO, "The company has had a meaningful stock purchase program including our Accelerated Share Repurchase transaction that was completed in January 2008 in which the company purchased 83.3 million shares of its common stock. This current 20 million authorization will enable us to be active in the marketplace over the next two years including buying back shares to offset dilution from the company’s employee stock plans."