STEC Inc Authorized Additional $40M Stock Repurchase Program





Rating is available when the video has been rented.
This feature is not available right now. Please try again later.
Uploaded on Aug 30, 2011

STEC Inc. (NASDAQ:STEC) authorized an additional stock repurchase program of up to $40 million of the company's common shares, which is in addition to the $15 million of common shares repurchased earlier in the month.

Manouch Moshayedi, STEC's Chairman and CEO said, "Our management and Board of Directors continue to believe in the long-term value of STEC. This $40 million stock repurchase program is in addition to the $15 million of STEC's common shares repurchased earlier this month and reflects our confidence in STEC's long-term fundamentals, growth prospects and strategy, and demonstrates our commitment to delivering shareholder value and realizing the full potential of our business and operations."

STEC has a potential upside of 28.3% based on a current price of $9.35 and an average consensus analyst price target of $12.

When autoplay is enabled, a suggested video will automatically play next.

Up next

to add this to Watch Later

Add to

Loading playlists...