Taitron Directors Approve Buyback of Common Stock

Taitron Components Inc. said its board of directors has authorized a repurchase of up to $1 million of its common stock on the open market.

Previously, in a similar program Taitron repurchased $631,000 worth of its common stock.

Companies typically launch stock buyback programs in an effort to boost the value of their shares.

Taitron’s stock recently has been trading for $2 to $3 a share. The company has 6.8 million shares of stock outstanding.

Taitron, based in Santa Clarita, is a distributor of transistors, semiconductors and other electronics devices.