SAN JOSE, Calif., Dec. 9, 2021 /PRNewswire/ — Broadcom Inc. (Nasdaq: AVGO), a world expertise chief that designs, develops and provides semiconductor and infrastructure software program options, immediately introduced its Board of Administrators has licensed the repurchase of as much as $10 billion of its frequent inventory below 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 arrogance of the Board of Administrators in Broadcom’s sturdy money circulate era and supplies us with a complementary instrument to ship worth to our stockholders,” stated Kirsten Spears, CFO of Broadcom Inc.
Repurchases below the brand new share repurchase program could also be made by 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 value, enterprise and market situations, company and regulatory necessities, various funding alternatives, acquisition alternatives and different components. Broadcom just isn’t obligated to repurchase any certain quantity of shares of frequent 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 expertise chief that designs, develops and provides a broad vary of semiconductor and infrastructure software program options. Broadcom’s category-leading product portfolio serves crucial markets together with information heart, networking, enterprise software program, broadband, wi-fi, storage and industrial. Our options embody information heart networking and storage, enterprise, mainframe and cyber safety software program centered on automation, monitoring and safety, smartphone elements, telecoms and manufacturing unit automation. For extra data, go to https://www.broadcom.com.
Cautionary Observe Relating to Ahead-Wanting Statements
This announcement accommodates forward-looking statements (together with inside the which means of Part 21E of the USA Securities Trade Act of 1934, as amended, and Part 27A of the USA Securities Act of 1933, as amended) regarding Broadcom’s plans and expectations with regard to its share repurchase program, and the advantages we might 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 at present obtainable to such administration, present market tendencies and market situations and contain dangers and uncertainties, a lot of that are outdoors 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 will get hold of totally free on the SEC’s web site at http://www.sec.gov, talk about a number of the essential threat components which will have an effect on our enterprise, outcomes of operations and monetary situation. Precise outcomes might fluctuate 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 because of new data, future occasions or in any other case, besides as required by regulation.