Broadcom Limited (AVGO) Plans Dividend Increase – $1.75 Per Share
Broadcom Limited (NASDAQ:AVGO) declared a quarterly dividend on Monday, December 4th, NASDAQ reports. Stockholders of record on Tuesday, December 19th will be paid a dividend of 1.75 per share by the semiconductor manufacturer on Friday, December 29th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Monday, December 18th. This is a boost from Broadcom’s previous quarterly dividend of $1.02.
Shares of Broadcom (NASDAQ AVGO) traded up $3.47 during mid-day trading on Wednesday, hitting $262.17. The stock had a trading volume of 1,903,689 shares, compared to its average volume of 2,808,147. The firm has a market capitalization of $106,054.25, a P/E ratio of 18.05, a PEG ratio of 1.11 and a beta of 1.05. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.80 and a current ratio of 6.39. Broadcom has a 1-year low of $173.31 and a 1-year high of $285.68.
Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.52 by $0.07. The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.84 billion. Broadcom had a return on equity of 28.61% and a net margin of 10.18%. The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.47 earnings per share. sell-side analysts forecast that Broadcom will post 16.99 earnings per share for the current year.
In other Broadcom news, SVP Bryan Ingram sold 794 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $258.60, for a total value of $205,328.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas H. Krause sold 2,595 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $267.34, for a total transaction of $693,747.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,389 shares of company stock valued at $25,712,376. Insiders own 3.60% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. Vetr lowered shares of Broadcom from a “buy” rating to a “hold” rating and set a $290.34 price objective on the stock. in a report on Monday, November 27th. Zacks Investment Research raised shares of Broadcom from a “sell” rating to a “hold” rating and set a $316.00 price objective on the stock in a report on Monday, November 27th. Mizuho reissued a “buy” rating and set a $290.00 price objective on shares of Broadcom in a report on Monday, November 6th. Drexel Hamilton reissued a “buy” rating and set a $302.00 price objective on shares of Broadcom in a report on Monday, November 6th. Finally, B. Riley reissued a “buy” rating and set a $315.00 price objective on shares of Broadcom in a report on Monday, November 20th. Four analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $303.13.
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Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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