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May 17, 2022, 7:40 a.m. EDT

Zebra Technologies stock set to gain after $1 billion boost to share repurchase authorization

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By Tomi Kilgore

Shares of Zebra Technologies Corp. /zigman2/quotes/201850708/composite ZBRA +3.87% were indicated up about 2% in premarket trading Tuesday, after the maker of automatic identification and data capture products boosted its share repurchase authorization by $1 billion. the company said the new authorization supplements the $1 billion program announced in July 2019, which has about $200 million remaining. The approximately $1.2 billion in repurchase authorization the company now has represents about 6.9% of Zebra's market capitalization of $17.29 billion as of Monday's close. "Our strong balance sheet and free cash flow profile provide us the flexibility to return capital to shareholders while continuing to pursue organic and inorganic investment opportunities that advance our Enterprise Asset Intelligence vision," Chief Executive Anders Gustafsson said. The stock has tumbled 44.7% year to date through Monday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +3.06% has declined 15.9%.

/zigman2/quotes/201850708/composite
US : U.S.: Nasdaq
$ 308.91
+11.50 +3.87%
Volume: 1.01M
June 24, 2022 4:00p
P/E Ratio
20.41
Dividend Yield
N/A
Market Cap
$16.22 billion
Rev. per Employee
$585,000
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/zigman2/quotes/210599714/realtime
US : S&P US
3,911.74
+116.01 +3.06%
Volume: 3.46B
June 24, 2022 5:05p
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