IMHO, PXT's "return of capital" execution is upsidedown.When share price is high, return of capital should be in the form of DIVIDENDS mostly.
When share price is Crazy stupid low, return of capital should be in the form of Buybacks mostly.
Again, buybacks should only be done when the share price is CRAZY STUPID undervalued, not just undervalued but Crazy Stupid undervalued because Buybacks is not like "investing", buybacks you cancel the shares, where as "investing" you can sell your investment to get your money back. Buybacks, shares are cancelled, money gone.
That's why buybacks should only be done when share price is Crazy stupid undervalued AND the company is Rock Solid Financially sound AND future outlook looks positive.
"Investing" wise, PXT I think is a screaming BUY.
"Buyback" wise, at $15 it's only a marginal BUY.
All just my opinion/view/thinking...