Broadcom rises on $10 bln stock buyback plans

ReutersApr 7, 2025 8:34 PM

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

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