June 1, 2010 (FinancialWire) — Ceva, Inc. (NASDAQ: CEVA) said that its board of directors authorized the expansion of the company's share repurchase program with an additional two million shares of common stock available for repurchase, representing around 10% of the company's outstanding common stock as of March 31.

The company said it plans to use available cash to effect any stock repurchases.

As of March 31, 2010, Ceva had around 21 million shares of common stock outstanding and $107 million of cash and marketable securities.

Under the share repurchase program, one million shares of the company's common stock may be repurchased from time to time outside of periods when the company's trading window is closed.

California-based Ceva is the licensor of silicon intellectual property (SIP) DSP Cores and platform solutions for the mobile handset, portable and consumer electronics markets.

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