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SAN JOSE, Calif., Dec. 9, 2021 /PRNewswire/ — Broadcom Inc. (Nasdaq: AVGO), a world know-how chief that designs, develops and provides semiconductor and infrastructure software program options, at present introduced its Board of Administrators has approved the repurchase of as much as $10 billion of its widespread inventory beneath a brand new share repurchase program. The authorization is efficient till December 31, 2022.
“The initiation of a brand new share repurchase program displays the boldness of the Board of Administrators in Broadcom’s robust money circulate technology and supplies us with a complementary device to ship worth to our stockholders,” mentioned Kirsten Spears, CFO of Broadcom Inc.
Repurchases beneath the brand new share repurchase program could also be made by means of a wide range of strategies, together with open market or privately negotiated purchases. The timing and quantity of shares repurchased will rely upon the inventory worth, enterprise and market circumstances, company and regulatory necessities, various funding alternatives, acquisition alternatives and different elements. Broadcom will not be obligated to repurchase any certain quantity of shares of widespread inventory, and the share repurchase program could also be suspended or terminated at any time.
About Broadcom Inc.
Broadcom Inc. (NASDAQ: AVGO) is a world know-how chief that designs, develops and provides a broad vary of semiconductor and infrastructure software program options. Broadcom’s category-leading product portfolio serves vital markets together with information heart, networking, enterprise software program, broadband, wi-fi, storage and industrial. Our options embrace information heart networking and storage, enterprise, mainframe and cyber safety software program targeted on automation, monitoring and safety, smartphone elements, telecoms and manufacturing facility automation. For extra info, go to https://www.broadcom.com.
Cautionary Word Relating to Ahead-Trying Statements
This announcement accommodates forward-looking statements (together with throughout the that means of Part 21E of america Securities Change Act of 1934, as amended, and Part 27A of america Securities Act of 1933, as amended) regarding Broadcom’s plans and expectations with regard to its share repurchase program, and the advantages we could derive from this system. These forward-looking statements are based mostly on present expectations and beliefs of Broadcom’s administration, in addition to assumptions made by and knowledge presently obtainable to such administration, present market tendencies and market circumstances and contain dangers and uncertainties, a lot of that are exterior Broadcom’s and administration’s management, and which can trigger precise outcomes to vary materially from these contained in forward-looking statements. Accordingly, you shouldn’t place undue reliance on such statements.
Our filings with the SEC, which you’ll receive at no cost on the SEC’s web site at http://www.sec.gov, focus on a few of the necessary threat elements that will have an effect on our enterprise, outcomes of operations and monetary situation. Precise outcomes could differ from the estimates supplied. We undertake no intent or obligation to replace or revise any of the forward-looking statements made on this announcement, whether or not on account of new info, future occasions or in any other case, besides as required by regulation.
Contact:
Ji Yoo
Broadcom Inc.
Investor Relations
408-433-8000
[email protected]
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