By Kelly Cloonan
Broadcom's board of directors has authorized a share repurchase program of up to $10 billion.
The Palo Alto, Calif., chip and software company said Monday the share buyback period extends until Dec. 31.
The stock rose 3% to trade at $158.00 in after-hours trading. Shares had gained 15% in the past 12 months through market close on Monday.
Repurchases under the new program may be made through a variety of methods, including open market or privately negotiated purchases, the company said.
The timing and amount of shares repurchased will depend on a number of factors, including stock price, business and market conditions, corporate and regulatory requirements and acquisition opportunities, the company said.
Chief Executive Hock Tan said the buyback program reflects the board's confidence in the strength of Broadcom's semiconductor and infrastructure software businesses.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
April 07, 2025 16:56 ET (20:56 GMT)
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