Broadcom Inc. (NASDAQ:AVGO) Plans Quarterly Dividend of $0.65

Broadcom Inc. (NASDAQ:AVGO) announced a quarterly dividend on Wednesday, June 3rd. Stockholders 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) dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date 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% meaning its dividend is sufficiently covered by earnings. Equities research 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 Trading Down 0.5%

Shares of AVGO stock opened at $479.23 on Thursday. Broadcom has a 1-year low of $241.11 and a 1-year high of $495.00. The company has a market cap of $2.27 trillion, a price-to-earnings ratio of 93.60, a PEG ratio of 0.99 and a beta of 1.41. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. The stock has a 50 day simple moving average of $392.87 and a 200-day simple moving average of $361.19.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. The firm had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The firm’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 EPS. On average, equities research analysts expect that Broadcom will post 9.91 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on AVGO shares. Wells Fargo & Company reiterated an “overweight” rating and issued a $545.00 target price (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. DA Davidson upgraded shares of Broadcom to a “hold” rating in a research report on Friday, February 13th. UBS Group reaffirmed a “buy” rating and issued a $490.00 price target (up from $475.00) on shares of Broadcom in a research note on Monday, May 18th. Truist Financial lifted their price objective on Broadcom from $510.00 to $545.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Finally, Wall Street Zen lowered Broadcom from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $461.63.

Broadcom Company Profile

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.