IRVINE, Calif.-Broadcom Corp said its board of directors has authorized a program to repurchase its Class A common stock with an aggregate value of up to $250 million over a period of a year.
The company said the repurchases will happen in the open market or privately negotiated in accordance with the Securities and Exchange Commission’s Rule 10b-18.
“This plan does not obligate Broadcom to acquire any particular amount of common stock, and the plan may be suspended at any time at Broadcom’s discretion,” said the company.
