Conexant Systems OKs 2-for-1 Stock Split

Just eight months after going public, Conexant Systems Inc. said Monday its directors have approved a 2-for-1 stock split.

The Newport Beach semiconductor company’s stock, which has more than quadrupled this year, closed Monday at $73.38, down $4.25 a share.

Shareholders of record on Sept. 24 will receive one additional share of stock for each share of common stock outstanding. The shares will be distributed Oct. 29.

Conexant will have about 195 million shares outstanding.