Broadcom Inc. (NASDAQ:AVGO) Increases Dividend to $0.65 Per Share

by · The Cerbat Gem

Broadcom Inc. (NASDAQ:AVGO – Get Free Report) declared a quarterly dividend on Thursday, December 11th. Stockholders of record on Monday, December 22nd will be given a dividend of 0.65 per share by the semiconductor manufacturer on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, December 22nd. This is a 10.2% increase from Broadcom’s previous quarterly dividend of $0.59.

Broadcom has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 15 years. Broadcom has a dividend payout ratio of 30.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Broadcom to earn $6.38 per share next year, which means the company should continue to be able to cover its $2.36 annual dividend with an expected future payout ratio of 37.0%.

Broadcom Trading Down 10.1%

Shares of NASDAQ:AVGO traded down $41.12 during midday trading on Friday, hitting $365.26. The company had a trading volume of 30,207,306 shares, compared to its average volume of 25,453,465. Broadcom has a 12 month low of $138.10 and a 12 month high of $414.61. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The stock has a market cap of $1.72 trillion, a price-to-earnings ratio of 92.92, a PEG ratio of 1.41 and a beta of 1.19. The firm has a fifty day simple moving average of $362.74 and a 200 day simple moving average of $316.47.

Broadcom (NASDAQ:AVGO – Get Free Report) last released its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business had revenue of $18.02 billion during the quarter, compared to the consensus estimate of $17.46 billion. During the same quarter in the prior year, the company posted $1.42 earnings per share. The firm’s revenue was up 28.2% on a year-over-year basis. On average, analysts predict that Broadcom will post 5.38 EPS for the current year.

Analysts Set New Price Targets

AVGO has been the topic of a number of analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Broadcom in a research report on Monday. Morgan Stanley restated an “overweight” rating and set a $443.00 price objective (up previously from $409.00) on shares of Broadcom in a report on Monday, December 1st. Truist Financial increased their target price on shares of Broadcom from $295.00 to $365.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Oppenheimer lifted their price target on shares of Broadcom from $435.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Rosenblatt Securities boosted their price target on shares of Broadcom from $400.00 to $440.00 and gave the company a “buy” rating in a report on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $416.75.

View Our Latest Stock Report on Broadcom

Broadcom Company Profile

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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.

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