Broadcom Inc. (AVGO) to Issue Quarterly Dividend of $0.65 on September 30th

Broadcom Inc. (NASDAQ:AVGO) declared a quarterly dividend on Tuesday, September 1st. Stockholders of record on Monday, September 21st will be given a dividend of 0.65 per share by the semiconductor manufacturer on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, September 21st.

Broadcom has raised its dividend payment by an average of 0.1%annually 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% meaning its dividend is sufficiently covered by earnings. Analysts expect Broadcom to earn $17.46 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 14.9%.

Broadcom Stock Performance

Shares of AVGO opened at $357.67 on Friday. Broadcom has a 1 year low of $289.96 and a 1 year high of $495.00. The company’s 50 day simple moving average is $378.91 and its 200 day simple moving average is $379.01. The company has a market capitalization of $1.71 trillion, a price-to-earnings ratio of 45.68 and a beta of 1.44. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, topping the consensus estimate of $3.22 by $0.10. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The firm had revenue of $29.59 billion during the quarter, compared to analysts’ expectations of $29.24 billion. During the same period in the previous year, the company earned $1.69 EPS. Broadcom’s revenue for the quarter was up 85.5% on a year-over-year basis. On average, sell-side analysts predict that Broadcom will post 10.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. UBS Group lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, September 3rd. Jefferies Financial Group started coverage on shares of Broadcom in a research report on Thursday, September 3rd. They issued a “buy” rating for the company. Dbs Bank upgraded shares of Broadcom to a “moderate buy” rating in a research note on Thursday, June 18th. Bank of America boosted their target price on shares of Broadcom from $450.00 to $530.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, Raymond James Financial restated an “outperform” rating and issued a $475.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $509.04.

Broadcom Company Profile

Broadcom Inc (NASDAQ:AVGO) designs, develops and supplies semiconductor and infrastructure software products for businesses, telecommunications providers and other organizations worldwide. Its semiconductor portfolio includes networking and connectivity components, custom application-specific integrated circuits, broadband and wireless communications products, storage adapters, optical components, and industrial solutions.

The company also provides enterprise infrastructure software through businesses including VMware, which offers virtualization and private- and hybrid-cloud solutions; mainframe and enterprise software; and cybersecurity products.