Now, we still maintain the smaller position, and I think that Hock will bring out more value,
And coincidentally Cramer got a question from a member asking if "a large share or purchase program needed at Broadcom right now to spark the stock."
And that night the company announced the initiation of a stock repurchase program.
We believe it "enhances our capital allocation strategy and provides us with a complementary tool to deliver value to our shareholders," said Tom Krause, Broadcom's Chief Financial Officer. "We are maintaining our policy of delivering 50% of trailing 12-month free cash flow to shareholders in the form of dividends while adding the ability to use the balance of our free cash flow not only for acquisitions but also for opportunistic buybacks."
Watch the video above for more on the portfolio team's thoughts on the stock.
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