4 big stock buybacks this week: Wix.com, InterDigital

Here are some of the week's biggest share-buyback announcements, all first covered on InvestingPro.

Wix.Com (NASDAQ:WIX) announced that the Israeli court authorized it to extend its share-repurchase program for an additional six months, through July 4, 2023, for the repurchase of up to $110 million of company ordinary shares and/or convertible notes. This allows buyback of up to the $57 million remaining balance from its existing $300 million repurchase program; the company would need additional board authorization to use the entire $110 million authorized by the court.

InterDigital Inc (NASDAQ:IDCC) announced on Tuesday that the company’s board has authorized about a $333 million increase to the outstanding amount of the company’s existing stock repurchase program to a total of $400 million.

The company also announced that it has signed an HEVC and VVC patent license with LG Electronics and agreed to renew its patent license agreement with Samsung Electronics (OTC:SSNLF). Shares gained more than 17% this week.

Collegium Pharmaceutical Inc (NASDAQ:COLL) announced a new $100 million share-repurchase program for 2023. Shares gained more than 23% this week after the company announced its 2023 full-year financial guidance and provided a business update on Wednesday.

Immersion Corporation (NASDAQ:IMMR) announced a new $50 million stock repurchase program for 2023 to replace its 2022 program, under which the company repurchased a total of 2,542,065 shares (approximately 7.4% of shares outstanding as of December 31, 2021).

The board also declared a special one-time dividend of 10 cents per share, in addition to a new recently declared quarterly dividend program of 3 cents per share, and Executive Chairman Eric Singer has been appointed CEO. Shares gained more than 8% this week.

***

For tools, data, and content to help you make better investing decisions, try InvestingPro.