Another buyback for Broadcom
From Times Wire Services
Irvine-based computer chip maker Broadcom Corp., whose shares have fallen 12% this year, said Thursday that it would buy back as much as $1 billion in stock, or more than 7% of the company’s shares outstanding.
The buyback will take place from Monday to the end of next year. Broadcom said it completed a previous $1-billion buyback Nov. 1.
Shares of Broadcom, whose chips are found in Apple Inc.’s iPhone and Motorola Inc.’s television set-top boxes, fell 14 cents Thursday to $28.52.
