Semiconductor supplier Broadcom (NASDAQ: AVGO) was more than ready to make a major acquisition earlier this year, offering to purchase Qualcomm (NASDAQ: QCOM) in a staggering deal valued at more than $100 billion. But management's tone has shifted. While a large acquisition still could be in the cards for Broadcom, management is adding another option for its free cash flow: buy back $12 billion worth of its own stock. Broadcom said on Thursday that its board had authorized up to $12 billion for repurchases of its common stock.
Broadcom Readies Billions For "opportunistic Buybacks"
newsfeedback@fool.com (Daniel Sparks), The Motley Fool
Thu, 04/12/2018 - 6:33pm
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