Broadcom Authorizes $10 Billion Share Repurchase Program

By Kelly Cloonan

Broadcom’s board of directors has authorized a share repurchase program of up to $10 billion.

The Palo Alto, Calif., chip and software company said Monday the share buyback period extends until Dec. 31.

The stock rose 3% to trade at $158.00 in after-hours trading. Shares had gained 15% in the past 12 months through market close on Monday.

Repurchases under the new program may be made through a variety of methods, including open market or privately…