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Sep. 21--NEWBURY PARK, Calif.--SEMTECH BUYS BACK SHARES: Semtech Corp. (Nasdaq: SMTC) has agreed to buy back an additional $50 million of its common shares, the Newbury Park-based semiconductor reported Thursday.
The company is now authorized to purchase $100 million of common stock and registered convertible subordinated notes from time to time through open-market transactions. Since January, the company, which has about 70.3 million shares outstanding, has bought back $24 million.
Semtech also announced Thursday that it expects sales for the fiscal third quarter ending Oct. 28 to come in at the high end of its previous guidance at 5 percent sequential sales …