Broadcom Inc. Declares Quarterly Dividend of $0.65 (NASDAQ:AVGO)
by Tristan Rich · The Markets DailyBroadcom Inc. (NASDAQ:AVGO – Get Free Report) declared a quarterly dividend on Tuesday, March 3rd, NASDAQ Dividends reports. Shareholders 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 yield of 0.8%. The ex-dividend date is Monday, March 23rd.
Broadcom has increased its dividend 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 dividend payout ratio of 33.2% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance
Broadcom stock opened at $310.51 on Friday. Broadcom has a 12-month low of $138.10 and a 12-month high of $414.61. The stock has a market cap of $1.47 trillion, a P/E ratio of 60.65, a PEG ratio of 0.69 and a beta of 1.22. The company has a 50-day moving average price of $330.43 and a 200 day moving average price of $344.98. 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 (NASDAQ:AVGO – Get Free Report) last announced its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. The company had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.60 earnings per share. Sell-side analysts anticipate that Broadcom will post 5.38 earnings per share for the current year.
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.