Power Integrations Inc. (San Jose, CA), a leader in power conversion semiconductor technology, announced that its board of directors has authorized the repurchase of up to $40 million of the company's shares. The repurchases are to take place from time to time on the open market.
In addition, the board of directors has authorized that repurchases may be made under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The repurchase program may be suspended or discontinued at any time. As of September 30, 2004, the company had approximately 31.0 million shares outstanding.
