Broadcom Inc. (NASDAQ:AVGO) Announces Quarterly Dividend of $0.65

Broadcom Inc. (NASDAQ:AVGO) declared a quarterly dividend on Wednesday, September 2nd. Investors 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) annualized dividend 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%annually over the last three years and has increased its dividend annually for the last 15 consecutive years. Broadcom has a payout ratio of 33.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Broadcom to earn $17.54 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 14.8%.

Broadcom Trading Down 0.7%

AVGO opened at $367.24 on Thursday. The stock has a 50-day moving average of $384.15 and a 200 day moving average of $377.14. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. Broadcom has a 12 month low of $289.96 and a 12 month high of $495.00. The firm has a market cap of $1.75 trillion, a P/E ratio of 61.21, a P/E/G ratio of 0.71 and a beta of 1.44.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.10. The business had revenue of $29.59 billion for the quarter, compared to the consensus estimate of $29.24 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company’s quarterly revenue was up 85.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.69 earnings per share. As a group, research analysts forecast that Broadcom will post 10.24 EPS for the current year.

Insiders Place Their Bets

In other Broadcom news, Director Gayla J. Delly sold 1,890 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the transaction, the director owned 31,326 shares of the company’s stock, valued at $12,072,413.88. This represents a 5.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction on Friday, July 10th. The stock was sold at an average price of $401.33, for a total value of $10,033,250.00. Following the completion of the sale, the insider owned 194,989 shares in the company, valued at approximately $78,254,935.37. The trade was a 11.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 61,644 shares of company stock valued at $24,016,214 over the last quarter. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Cornerstone Advisors LLC purchased a new stake in Broadcom during the second quarter valued at approximately $92,522,000. Bank of America Corp DE grew its holdings in Broadcom by 1.5% in the first quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer’s stock worth $18,179,719,000 after purchasing an additional 894,564 shares during the last quarter. Bartlett & CO. Wealth Management LLC grew its holdings in Broadcom by 129.3% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 110,048 shares of the semiconductor manufacturer’s stock worth $34,061,000 after purchasing an additional 62,050 shares during the last quarter. First Bank & Trust increased its position in shares of Broadcom by 17.2% during the second quarter. First Bank & Trust now owns 10,503 shares of the semiconductor manufacturer’s stock worth $3,968,000 after purchasing an additional 1,545 shares in the last quarter. Finally, Fifth Lane Capital LP lifted its holdings in shares of Broadcom by 77.8% during the 4th quarter. Fifth Lane Capital LP now owns 4,000 shares of the semiconductor manufacturer’s stock valued at $1,384,000 after purchasing an additional 1,750 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

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.