Broadcom Inc. (AVGO) To Go Ex-Dividend on June 22nd

Broadcom Inc. (NASDAQ:AVGO) announced a quarterly dividend on Wednesday, June 3rd. Investors of record on Monday, June 22nd will be given a dividend of 0.65 per share by the semiconductor manufacturer on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 22nd.

Broadcom has raised its dividend payment 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 payout ratio of 33.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Broadcom to earn $16.51 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 15.7%.

Broadcom Stock Down 12.6%

AVGO stock opened at $418.91 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. Broadcom has a 1 year low of $241.11 and a 1 year high of $495.00. The company has a fifty day simple moving average of $394.88 and a 200 day simple moving average of $361.73. The firm has a market cap of $1.98 trillion, a PE ratio of 69.82, a PEG ratio of 0.99 and a beta of 1.41.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 42.88%. The business had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same quarter in the previous year, the business earned $1.58 EPS. Broadcom’s quarterly revenue was up 47.9% compared to the same quarter last year. Sell-side analysts anticipate that Broadcom will post 9.89 EPS for the current fiscal year.

Insider Activity

In other Broadcom news, CFO Kirsten M. Spears sold 36,292 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the completion of the transaction, the chief financial officer owned 327,760 shares of the company’s stock, valued at $105,407,616. The trade was a 9.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 39,116 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the transaction, the insider directly owned 74,626 shares of the company’s stock, valued at approximately $24,000,467.86. This represents a 34.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 324,282 shares of company stock worth $106,425,249 in the last 90 days. Insiders own 1.90% of the company’s stock.

Institutional Trading of Broadcom

Hedge funds have recently bought and sold shares of the stock. ROSS JOHNSON & Associates LLC lifted its stake in shares of Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 66 shares during the period. Networth Advisors LLC lifted its stake in shares of Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 71 shares during the period. SWAN Capital LLC lifted its stake in shares of Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 55 shares during the period. Miller Global Investments LLC bought a new stake in shares of Broadcom in the fourth quarter valued at about $31,000. Finally, Nvest Wealth Strategies Inc. bought a new stake in shares of Broadcom in the fourth quarter valued at about $33,000. 76.43% of the stock is owned by institutional investors.

About Broadcom

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.