Tiger Brokers

BUZZ-Broadcom rises on $10 bln stock buyback plans

Reuters
Apr 08
BUZZ-Broadcom rises on $10 bln stock buyback plans

** Broadcom's AVGO.O shares up 3% to $158.77 in post-market trading as chipmaker looks to buy back some of its stock

** Palo Alto, California-based firm announces new $10 bln share repurchase program through Dec 31, 2025

** Co says program reflects board's confidence in the strength of its diversified semiconductor and infrastructure software product franchises

** AVGO shares finished session up 5.4% at $154.14 on Mon, snapping 2-day losing streak as equities gyrated amid escalation of trade wars .N

** With 4.7 bln shares outstanding, co has roughly $725 bln market cap, per LSEG data

** YTD, stock down 33.5% vs Philadelphia semiconductor index's .SOX ~26% decline and S&P 500 Tech sector's .SPLRCT 22.5% drop

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10