Taitron Components OKs Stock Buyback

Taitron Components Inc. in Santa Clarita has authorized a stock buyback of up to 200,000 of the company's shares. The semiconductor distributor currently has 6.2 million shares of stock outstanding.

Taitron's stock has been trading recently in the $3-per-share range.

Companies often buy back some of their stock in hopes of boosting the price of the remaining shares.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World