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Fairchild Semiconductor authorizes $100M share buyback program

  • Fairchild Semiconductor (FCS +1.3%) shares trade up on a day that the Market Vectors semiconductor ETF is off 0.48% after the company's board authorizes a $100M share repurchase program.
  • CEO Mark Thompson: "We completed a significant investment cycle to increase our 8 inch wafer fabrication capabilities last year and now expect lower capital spending for many years."
  • The program would be good for reducing shares outstanding by ~6% at current price levels.
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