Broadcom Inc. (NASDAQ:AVGO) Plans Quarterly Dividend of $0.53

Broadcom Inc. (NASDAQ:AVGO) declared 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 1.39%. 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% annually over the last three years and has increased its dividend annually for the last 14 consecutive years. Broadcom has a dividend 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 Price Performance

Shares of AVGO opened at $152.82 on Friday. The stock has a market capitalization of $711.36 billion, a P/E ratio of 6.57, a P/E/G ratio of 2.87 and a beta of 1.16. Broadcom has a twelve month low of $79.51 and a twelve month high of $185.16. The company has a 50 day moving average of $189.95 and a 200-day moving average of $155.57. The company has a quick ratio of 1.16, a current ratio of 1.25 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 35.82% and a net margin of 24.10%. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.95 EPS. As a group, equities research analysts forecast that Broadcom will post 3.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Oppenheimer cut their price objective on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Morgan Stanley reissued an “overweight” rating and issued a $165.80 price objective on shares of Broadcom in a report on Monday, June 10th. Citigroup reissued a “buy” rating and issued a $156.00 price objective on shares of Broadcom in a report on Tuesday, June 11th. Sanford C. Bernstein raised their price target on Broadcom from $160.00 to $195.00 and gave the company an “outperform” rating in a report on Thursday, June 13th. Finally, Benchmark reaffirmed a “buy” rating and set a $210.00 price target on shares of Broadcom in a report on Friday. Two research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $188.37.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 2,540 shares of the firm’s 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 sale, the director now owns 27,480 shares in the company, valued at $4,809,714.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other 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 value of $12,798,036.90. Following the completion of the transaction, the chief executive officer now owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Justine Page sold 2,540 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the transaction, the director now owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate 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.