Broadcom Inc. (AVGO) To Go Ex-Dividend on March 23rd

Broadcom Inc. (NASDAQ:AVGO) declared a quarterly dividend on Tuesday, March 3rd, NASDAQ Dividends reports. Stockholders of record on Monday, March 23rd will be given a dividend of 0.65 per share by the semiconductor manufacturer on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, March 23rd.

Broadcom has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 15 years. Broadcom has a dividend payout ratio of 33.2% 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 $2.60 annual dividend with an expected future payout ratio of 40.8%.

Broadcom Trading Down 2.9%

Shares of NASDAQ:AVGO opened at $310.51 on Friday. The stock has a 50 day moving average of $330.43 and a 200 day moving average of $344.98. The company has a market cap of $1.47 trillion, a PE ratio of 60.65, a price-to-earnings-growth ratio of 0.69 and a beta of 1.22. 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 12-month low of $138.10 and a 12-month high of $414.61.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company had revenue of $19.31 billion during the quarter, compared to analyst estimates of $19.10 billion. During the same period in the prior year, the firm posted $1.60 EPS. The firm’s quarterly revenue was up 29.5% compared to the same quarter last year. As a group, equities research analysts expect that Broadcom will post 5.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Truist Financial raised their price objective on shares of Broadcom from $510.00 to $545.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. DA Davidson raised shares of Broadcom to a “hold” rating in a report on Friday, February 13th. UBS Group set a $475.00 price target on Broadcom and gave the stock a “buy” rating in a research note on Monday, December 15th. Weiss Ratings restated a “buy (b)” rating on shares of Broadcom in a research report on Monday, December 29th. Finally, Royal Bank Of Canada dropped their price objective on Broadcom from $370.00 to $340.00 and set a “sector perform” rating for the company in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $435.30.

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.