Broadcom announces $10 billion stock buyback, driving shares up 3%

From Zacks Investment Research: 2025-04-08 16:04:00

Broadcom Inc. (AVGO) has announced a $10 billion stock buyback program, driving its shares up more than 3% in extended trading. This move shows confidence in the company’s AI-related investments and future prospects. Broadcom’s XPUs are gaining popularity, with the market size expected to reach $60-90 billion by 2027. The company’s first-quarter fiscal 2025 revenues were $14.9 billion, up 25% year over year, with an EPS of $1.60, a 45.5% increase from the previous year. Brokers are optimistic about Broadcom’s growth potential, raising the average short-term price target by 70.4% to $249.25.



Read more at Zacks Investment Research: Broadcom Unveils $10 Billion Stock Buyback: Buy AVGO Stock Now? – April 8, 2025