MOUNTAIN VIEW, Calif. -- June 17, 2021 -- Synopsys, Inc. today announced that its Board of Directors has replenished its existing stock repurchase authorization up to $500 million.
"The replenishment of our repurchase authorization reinforces our ongoing commitment to generate sustainable, long-term shareholder value," said Trac Pham, chief financial officer of Synopsys. "We continue to execute well on our strategy to balance strategic investments to grow the business, expand margins and return capital to stockholders."
Synopsys' Board of Directors originally approved the stock repurchase program in 2002 and has periodically replenished the program as funds are spent. The program does not obligate Synopsys to acquire any particular amount of common stock, and the program may be suspended or terminated at any time by the chief financial officer or the Board of Directors at their sole discretion.
Synopsys, Inc. (Nasdaq: SNPS) is the Silicon to Software™ partner for innovative companies developing the electronic products and software applications we rely on every day. As an S&P 500 company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP and offers the industry's broadest portfolio of application security testing tools and services. Whether you're a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing more secure, high-quality code, Synopsys has the solutions needed to deliver innovative products. Learn more at www.synopsys.com.