Broadcom Inc. (AVGO) to Issue Quarterly Dividend of $0.53 on September 30th

Broadcom Inc. (NASDAQ:AVGO) announced a quarterly dividend on Thursday, September 5th, RTT News reports. Stockholders of record on Thursday, September 19th will be paid a dividend of 0.53 per share by the semiconductor manufacturer on Monday, September 30th. This represents a $2.12 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53.

Broadcom has raised its dividend payment by an average of 12.6% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Broadcom has a payout ratio of 34.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Broadcom to earn $4.90 per share next year, which means the company should continue to be able to cover its $2.10 annual dividend with an expected future payout ratio of 42.9%.

Broadcom Trading Down 10.4 %

Shares of Broadcom stock opened at $137.00 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.16 and a debt-to-equity ratio of 1.02. Broadcom has a twelve month low of $79.51 and a twelve month high of $185.16. The firm has a market capitalization of $637.70 billion, a PE ratio of 5.89, a P/E/G ratio of 2.87 and a beta of 1.16. The firm’s 50-day moving average price is $189.48 and its 200 day moving average price is $155.66.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 35.82% and a net margin of 24.10%. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter last year, the business posted $0.95 earnings per share. The business’s quarterly revenue was up 47.3% compared to the same quarter last year. On average, sell-side analysts predict that Broadcom will post 3.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AVGO shares. Sanford C. Bernstein lifted their price target on Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. Rosenblatt Securities cut their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday. Melius initiated coverage on Broadcom in a research report on Monday, June 3rd. They set a “buy” rating and a $185.00 price target for the company. UBS Group boosted their price objective on Broadcom from $161.00 to $173.50 and gave the company a “buy” rating in a report on Thursday, June 13th. Finally, Barclays raised their target price on Broadcom from $150.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, June 13th. Two investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $189.38.

Insider Activity at Broadcom

In other news, Director Justine Page sold 2,540 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $175.03, for a total value of $444,566.04. Following the completion of the sale, the director now directly owns 27,480 shares of the company’s stock, valued at $4,809,714.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the completion of the sale, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Justine Page sold 2,540 shares of Broadcom stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $175.03, for a total value of $444,566.04. Following the completion of the transaction, the director now owns 27,480 shares in the company, valued at $4,809,714.48. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various 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 in two segments, Semiconductor Solutions and Infrastructure Software.