Wi-Fi chip designer CSR aims to buy back up to $50m (£32.4m) worth of its shares after failing to identify suitably priced acquisitions.
IC TIP:
Buy
at
353p
CSR is a robust cash generator - $24.4m in the second quarter to end-June alone. That left it with $429m of cash and the figure should hit $476m by the year-end. Certainly, adding a value-enhancing acquisition would have been a good use of that cash, but decently priced opportunities are indeed few and far between at present. That's because sector valuations have been puffed-up by new gadget growth, such as smart phones, tablet computers and high-definition televisions.
When: 3/06/10
Price: 403p
Performance to date: -13%
