Questionable why cashing in chips now, MLX needs a few things (like a direction for capital management or growth strategy), but cash isn't really one of them.
I would of course speculate that they have their eyes on something and tidying up the balance sheet before they do make a move, and emphasis that this is just my pure speculation, although they did flag it very plainly that they are looking at opportunities arising in the M&A environment.
Time will tell, in the meantime, looks like after the little peak into the 30's we're heading back to test the 12 month lows where I might pick up a few more shares waiting for the Board to come up with something that has been worth waiting for.
MLX Price at posting:
27.8¢ Sentiment: Hold Disclosure: Held
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