On Semi (ON) announced that its board of directors has authorized a new share repurchase program of up to $6B over the next three years. The new share repurchase program will launch on January 1, 2026 after the previous $3B authorization expires on December 31. Under the prior authorization, On Semi has repurchased $2.1B of its common stock over the last three years, in particular spending approximately 100% of the company’s free cash flow in 2025 for share repurchase.
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