Chipmaker Qualcomm unveils $20 billion stock buyback program

Qualcomm announced a $20.0 billion stock buyback program, adding to an existing $2.1 billion repurchase authority. The large buyback signals aggressive capital return that should support EPS and shareholder value and could move the shares roughly 1-3%. No operational or guidance changes were disclosed in the release.

Analysis

Qualcomm announced a $20.0 billion stock buyback program, adding to an existing $2.1 billion repurchase authority. The large buyback signals aggressive capital return that should support EPS and shareholder value and could move the shares roughly 1-3%. No operational or guidance changes were disclosed in the release.