Broadcom (NASDAQ:AVGO) Posts Earnings Results, Beats Estimates By $0.71 EPS

Broadcom (NASDAQ:AVGO) released its earnings results on Thursday, March 15th. The semiconductor manufacturer reported $5.12 EPS for the quarter, topping the consensus estimate of $4.41 by $0.71, Bloomberg Earnings reports. The business had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Broadcom had a return on equity of 29.50% and a net margin of 41.37%. The firm’s revenue was up 28.5% on a year-over-year basis. During the same quarter last year, the firm posted $3.63 earnings per share.

Shares of Broadcom stock traded down $7.44 during midday trading on Friday, hitting $228.87. The company had a trading volume of 3,024,759 shares, compared to its average volume of 5,132,258. The company has a quick ratio of 5.04, a current ratio of 5.70 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $97,064.80, a P/E ratio of 16.00, a PEG ratio of 1.07 and a beta of 0.92. Broadcom has a 52-week low of $208.44 and a 52-week high of $285.68.

How to Become a New Pot Stock Millionaire

The business also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 22nd were paid a $1.75 dividend. The ex-dividend date of this dividend was Wednesday, March 21st. This represents a $7.00 annualized dividend and a dividend yield of 3.06%. This is an increase from Broadcom’s previous quarterly dividend of $0.40. Broadcom’s dividend payout ratio is presently 48.95%.

Several research analysts have issued reports on AVGO shares. Vetr lowered Broadcom from a “strong-buy” rating to a “buy” rating and set a $295.91 price target on the stock. in a report on Monday, December 18th. Oppenheimer reiterated a “buy” rating on shares of Broadcom in a report on Friday, December 15th. Mizuho reiterated a “buy” rating and set a $310.00 price target on shares of Broadcom in a report on Thursday, December 14th. Nomura lifted their price target on Broadcom to $330.00 and gave the stock a “buy” rating in a report on Friday, December 8th. Finally, DA Davidson raised their target price on Broadcom to $325.00 and gave the stock a “buy” rating in a research report on Friday, December 8th. Five analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $313.89.

In related news, CFO Thomas H. Krause sold 3,171 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $259.81, for a total value of $823,857.51. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Kirsten M. Spears sold 199 shares of the stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $243.88, for a total value of $48,532.12. The disclosure for this sale can be found here. Insiders sold a total of 98,675 shares of company stock worth $25,376,429 in the last 90 days. 3.30% of the stock is currently owned by company insiders.

COPYRIGHT VIOLATION WARNING: This piece was first published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this piece on another site, it was copied illegally and reposted in violation of international copyright law. The correct version of this piece can be viewed at

Broadcom Company Profile

Broadcom Limited designs, develops, and supplies a range of semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

Earnings History for Broadcom (NASDAQ:AVGO)

Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with's FREE daily email newsletter.

Leave a Reply