Broadcom Inc. (NASDAQ:AVGO – Get Free Report) announced a quarterly dividend on Tuesday, September 1st. Shareholders 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 yield of 0.7%. The ex-dividend date of this dividend is Monday, September 21st.
Broadcom has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 15 consecutive years. Broadcom has a dividend payout ratio of 33.2% meaning its dividend is sufficiently covered by earnings. Research 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 Trading Up 3.0%
Shares of NASDAQ AVGO opened at $357.67 on Friday. The firm’s 50 day moving average price is $378.91 and its 200-day moving average price is $379.01. The company has a market cap of $1.71 trillion, a PE ratio of 45.68 and a beta of 1.44. Broadcom has a 52-week low of $289.96 and a 52-week high of $495.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50.
Analyst Ratings Changes
AVGO has been the subject of several recent analyst reports. Morgan Stanley restated an “overweight” rating and issued a $505.00 price target (up from $502.00) on shares of Broadcom in a research note on Thursday, September 3rd. Piper Sandler started coverage on shares of Broadcom in a report on Wednesday, September 9th. They issued an “overweight” rating and a $460.00 target price on the stock. Lake Street Capital raised shares of Broadcom to a “buy” rating in a research report on Thursday, September 3rd. Oppenheimer reiterated an “outperform” rating and set a $535.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday, June 4th. Finally, JPMorgan Chase & Co. raised their price target on Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. One 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $509.04.
Check Out Our Latest Stock Report on AVGO
About Broadcom
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.
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