Vishay Precision Group of Malvern has announced a stock repurchase plan in which the company may repurchase up to 500,000 shares of its outstanding common stock.

The board of directors of the company, a top producer of precision sensors and systems based on resistive foil technology, made the announcement Sept. 24.

“We are confident in our long-term growth strategy and believe our strong balance sheet provides ample cash to finance this program, continue our investments in current operations and pursue our acquisition strategy,” said Marc Zandman, chairman of the board.

Vishay expects to fund share repurchases through cash on hand and cash generated from its operations and borrowings under its revolving credit facility. The company had approximately 12.7 million shares of common stock outstanding as of Sept. 23.

Vishay may repurchase shares in open market purchases or through privately negotiated transactions, subject to market and business conditions, legal requirements, and other factors. The company may enter into Rule 10b5-1 plans to facilitate repurchases. The program does not obligate the company to acquire any particular amount of common stock, and it may be terminated or suspended at any time.