Broadcom Inc (NASDAQ:AVGO) announced a quarterly dividend on Thursday, September 3rd, RTT News reports. Stockholders of record on Tuesday, September 22nd will be paid a dividend of 3.25 per share by the semiconductor manufacturer on Wednesday, September 30th. This represents a $13.00 annualized dividend and a dividend yield of 3.58%.
Broadcom has increased its dividend by 344.4% over the last three years and has increased its dividend every year for the last 9 years.
Broadcom stock opened at $362.95 on Friday. The company’s 50-day moving average price is $326.36 and its 200-day moving average price is $288.33. The company has a quick ratio of 2.01, a current ratio of 2.15 and a debt-to-equity ratio of 1.88. The company has a market cap of $141.61 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 1.68 and a beta of 0.93. Broadcom has a twelve month low of $155.67 and a twelve month high of $378.96.
Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 3rd. The semiconductor manufacturer reported $5.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.24 by $0.16. Broadcom had a return on equity of 32.15% and a net margin of 10.70%. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same quarter last year, the business posted $5.16 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts expect that Broadcom will post 17.47 earnings per share for the current fiscal year.
In other Broadcom news, SVP Charlie B. Kawwas sold 27,192 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $313.66, for a total value of $8,529,042.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harry L. You sold 98 shares of Broadcom stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $315.46, for a total transaction of $30,915.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 766,606 shares of company stock worth $246,329,809. 3.30% of the stock is owned by corporate insiders.
Several research firms have recently weighed in on AVGO. Morgan Stanley boosted their target price on Broadcom from $358.00 to $415.00 and gave the company an “overweight” rating in a research report on Friday. Bank of America lifted their price objective on shares of Broadcom from $305.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Argus lifted their price target on shares of Broadcom from $250.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Wells Fargo & Co increased their price objective on shares of Broadcom from $300.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, SunTrust Banks boosted their price objective on Broadcom from $300.00 to $360.00 and gave the company a “buy” rating in a report on Friday, June 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $376.58.
Broadcom Inc designs, develops, and supplies a range of semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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