Broadcom Inc. (AVGO) to Issue Quarterly Dividend of $0.59 on December 31st

Broadcom Inc. (NASDAQ:AVGO) declared a quarterly dividend on Thursday, December 12th,RTT News reports. Shareholders of record on Monday, December 23rd will be paid a dividend of 0.59 per share by the semiconductor manufacturer on Tuesday, December 31st. This represents a $2.36 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53.

Broadcom has raised its dividend by an average of 12.6% annually over the last three years and has increased its dividend every year for the last 15 years. Broadcom has a payout ratio of 34.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Broadcom to earn $5.15 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 41.2%.

Broadcom Trading Up 24.4 %

Shares of NASDAQ AVGO opened at $224.80 on Friday. Broadcom has a fifty-two week low of $104.15 and a fifty-two week high of $228.70. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a market cap of $1.05 trillion, a price-to-earnings ratio of 182.76, a PEG ratio of 2.15 and a beta of 1.13. The business’s 50 day moving average price is $174.61 and its 200-day moving average price is $164.45.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business’s revenue was up 51.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. On average, sell-side analysts expect that Broadcom will post 3.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AVGO. UBS Group boosted their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. TD Cowen raised their target price on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday. Evercore ISI boosted their price objective on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 target price on shares of Broadcom in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $220.33.

Insider Transactions at Broadcom

In other news, Director Gayla J. Delly sold 750 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the transaction, the director now owns 34,750 shares in the company, valued at $6,064,917.50. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the sale, the insider now directly owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 in the last 90 days. 2.00% of the stock is currently owned by company insiders.

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.