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Game publisher

Activision

(ATVI) - Get Activision Blizzard, Inc. Report

is planning to buy back as much as $350 million worth of its stock, the company said Thursday.

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The company previously had planned plan to repurchase as much as $150 million worth of stock, so the new plan adds $200 million to that figure.

As part of the program that began last October, the company has repurchased 5.1 million shares at an average cost of $13.80 per share. Since the beginning of this year, Activision has bought back 3.3 million shares.

In addition, it also has entered into a series of structured stock transactions of about $80 million.

The company said the proposed actions wouldn't affect its fiscal-year earnings per share targets. Activision's fiscal year ends on March 31.P/>The company's shares were up 39 cents, or 2.7%, at $14.87 in morning trading.