Spreadtrum Communications (SPRD +4.4%) is taking advantage of recent price weakness to...

|About: Spreadtrum Communications, ... (SPRD)|By:, SA News Editor

Spreadtrum Communications (SPRD +4.4%) is taking advantage of recent price weakness to repurchase up to $100M ADS's. The company says it's flush with cash, and the buyback "reflects our confidence with our near- and long-term growth initiatives."