Arizona’s Top Buyback Companies: Who’s Reinvesting in Themselves—and Why It Matters

When companies repurchase their own shares, they’re sending a signal—and savvy investors are listening. Stock buybacks can indicate strong financials, excess cash, undervalued shares, or a commitment to boosting shareholder value. And in Arizona, several major players are quietly making waves by buying back their own stock.

Here’s a look at some of the most notable Arizona-based companies engaging in (or showing strong signals of) buybacks—and what it could mean for investors.

Why Do Buybacks Matter?

When a company reduces the number of shares available on the market, each remaining share typically becomes more valuable. Buybacks can:

• Improve earnings per share (EPS)

• Demonstrate executive confidence

• Suggest undervaluation

• Offer a tax-efficient way to return value to shareholders (compared to dividends)

Arizona-Based Companies with Recent or Repeated Buyback Activity

1. Freeport-McMoRan Inc. (FCX) – Phoenix, AZ

As one of the world’s largest producers of copper and gold, Freeport-McMoRan has shown strong buyback behavior during high commodity cycles. With steady cash flow and a keen eye on shareholder returns, they authorized $3 billion in share repurchases in recent years—a move that signaled financial strength and long-term confidence.

Buyback Signal: Strong commodity prices + cash on hand + low debt

2. ON Semiconductor (ON) – Scottsdale, AZ

With booming demand in automotive and industrial chips, ON Semiconductor has positioned itself as a key player in the power and sensor solutions market. Their consistent repurchase activity and expansion into AI and EV markets suggest they’re optimizing capital and believe their shares are undervalued.

Buyback Signal: Increased EPS guidance + recent capital returns program

3. Western Alliance Bancorporation (WAL) – Phoenix, AZ

Despite the volatility in regional banking, Western Alliance has rebounded and repurchased shares to demonstrate stability and long-term viability. Buybacks at low stock prices can indicate internal confidence during uncertain times.

Buyback Signal: Valuation recovery strategy + solid net interest income

4. Taylor Morrison Home Corp (TMHC) – Scottsdale, AZ

This national homebuilder has engaged in periodic buybacks, especially during favorable real estate cycles. With steady housing demand in the Southwest, TMHC's capital strategy has leaned on repurchases to return value and balance capital.

Buyback Signal: Healthy housing margins + strong demand in core markets

5. GoDaddy Inc. (GDDY) – Tempe, AZ

A giant in the domain and web hosting space, GoDaddy has used share buybacks as a tool to manage dilution and enhance shareholder value—particularly after periods of strong growth or strategic acquisitions.

Buyback Signal: Subscription revenue growth + recurring income model

What to Watch For Next

Even companies that haven’t formally announced a repurchase program may show signs that one is coming. Here are some indicators to track:

• Strong free cash flow

• Falling share price despite solid fundamentals

• Debt reduction and balance sheet clean-up

• Insider buying

• Low P/E or PEG ratios compared to industry peers

Want to Track These Companies Automatically?

Use the BuyBack Spotters Checklist (available on our blog) to help identify which Arizona-based companies might be next to announce a buyback. Or better yet—let BuyBack Analytics do the work for you. Our real-time alerts and tools highlight the patterns before Wall Street catches on.

Final Thought:
Arizona might be known for its sunshine, but these companies are casting a long shadow in the buyback world. If you’re tracking smart capital moves, this is a region—and a list—you’ll want to keep a close eye on.