Broadcom Limited (NASDAQ:AVGO) Declares Quarterly Dividend of $1.75

Broadcom Limited (NASDAQ:AVGO) declared a quarterly dividend on Thursday, March 15th, Fidelity reports. Stockholders of record on Thursday, March 22nd will be paid a dividend of 1.75 per share by the semiconductor manufacturer on Thursday, March 29th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Wednesday, March 21st. This is a positive change from Broadcom’s previous quarterly dividend of $0.40.

Broadcom stock traded down $7.44 during trading on Friday, hitting $228.87. 3,024,759 shares of the company were exchanged, compared to its average volume of 5,132,258. Broadcom has a 52 week low of $208.44 and a 52 week high of $285.68. The company has a market capitalization of $94,008.81, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 1.04 and a beta of 0.92. The company has a current ratio of 5.70, a quick ratio of 5.04 and a debt-to-equity ratio of 0.60.

How to Become a New Pot Stock Millionaire

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 15th. The semiconductor manufacturer reported $5.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.41 by $0.71. Broadcom had a return on equity of 29.50% and a net margin of 41.37%. The business had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the company posted $3.63 earnings per share. Broadcom’s revenue was up 28.5% compared to the same quarter last year. analysts predict that Broadcom will post 17.43 EPS for the current year.

In other Broadcom news, CFO Thomas H. Krause sold 3,171 shares of the firm’s stock in a transaction dated 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 accessible through this hyperlink. Also, insider Kirsten M. Spears sold 199 shares of the stock in a transaction dated 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. In the last ninety days, insiders sold 98,675 shares of company stock worth $25,376,429. Insiders own 3.30% of the company’s stock.

Several equities research analysts recently issued reports on the company. Jefferies Group reiterated a “buy” rating and set a $332.00 price target on shares of Broadcom in a report on Friday, March 16th. Barclays started coverage on Broadcom in a research note on Monday, March 26th. They issued an “overweight” rating and a $335.00 price objective for the company. Deutsche Bank started coverage on Broadcom in a research note on Thursday, March 15th. They issued a “buy” rating and a $325.00 price objective for the company. Canaccord Genuity restated a “buy” rating and issued a $340.00 price objective (up previously from $325.00) on shares of Broadcom in a research note on Friday, March 16th. Finally, Drexel Hamilton restated a “buy” rating and issued a $313.00 price objective (up previously from $302.00) on shares of Broadcom in a research note on Friday, March 16th. Five investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company. Broadcom currently has an average rating of “Buy” and a consensus target price of $313.89.

TRADEMARK VIOLATION NOTICE: “Broadcom Limited (NASDAQ:AVGO) Declares Quarterly Dividend of $1.75” was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this report on another website, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this report can be read at https://www.dispatchtribunal.com/2018/04/08/avago-technologies-general-ip-singapore-pte-ltd-avgo-to-go-ex-dividend-on-march-21st.html.

About Broadcom

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.

Dividend 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 MarketBeat.com's FREE daily email newsletter.

Leave a Reply