Broadcom is headquartered in San Jose, California, and their main business is the production of smart phone chips. The company said in a statement issued on Thursday that they will use a variety of means for stock repurchases, including through the open market and private transactions. Repurchase. Broadcom also revealed that they may suspend or close the repurchase program at any time.
Last month Broadcom just moved its headquarters from Singapore to the United States. They originally planned to acquire Qualcomm, the largest competitor, but President Donald Trump called for a halt to 'possibly threatening national security'. The deal.
After the stock repurchase program was announced, Broadcom's stock price rose by about 4%, and the current stock price was 239.43 US dollars per share. Based on current prices, Broadcom's market value is 98.3 billion US dollars.