Wall Street brokerages predict that Broadcom Inc. (NASDAQ:AVGO) will post $6.76 billion in sales for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Broadcom’s earnings. The lowest sales estimate is $6.75 billion and the highest is $6.79 billion. Broadcom reported sales of $5.82 billion during the same quarter last year, which indicates a positive year over year growth rate of 16.2%. The business is expected to issue its next quarterly earnings report on Thursday, September 2nd.
On average, analysts expect that Broadcom will report full year sales of $27.24 billion for the current year, with estimates ranging from $27.10 billion to $27.47 billion. For the next fiscal year, analysts forecast that the firm will post sales of $28.97 billion, with estimates ranging from $28.61 billion to $29.44 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Broadcom.
Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, June 2nd. The semiconductor manufacturer reported $6.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $6.43 by $0.19. The company had revenue of $6.61 billion during the quarter, compared to analysts’ expectations of $6.51 billion. Broadcom had a return on equity of 41.39% and a net margin of 19.11%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the business earned $5.14 EPS.
In related news, Director Eddy W. Hartenstein sold 530 shares of Broadcom stock in a transaction on Tuesday, May 4th. The stock was sold at an average price of $442.31, for a total transaction of $234,424.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 2,120 shares of company stock valued at $956,507. 2.40% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in AVGO. CX Institutional grew its position in Broadcom by 4.1% during the first quarter. CX Institutional now owns 537 shares of the semiconductor manufacturer’s stock valued at $249,000 after acquiring an additional 21 shares during the period. Mirador Capital Partners LP grew its position in Broadcom by 3.0% during the first quarter. Mirador Capital Partners LP now owns 762 shares of the semiconductor manufacturer’s stock valued at $353,000 after acquiring an additional 22 shares during the period. Brown Miller Wealth Management LLC boosted its position in shares of Broadcom by 4.1% in the first quarter. Brown Miller Wealth Management LLC now owns 614 shares of the semiconductor manufacturer’s stock worth $285,000 after buying an additional 24 shares during the period. 9258 Wealth Management LLC boosted its position in shares of Broadcom by 0.8% in the first quarter. 9258 Wealth Management LLC now owns 2,957 shares of the semiconductor manufacturer’s stock worth $1,371,000 after buying an additional 24 shares during the period. Finally, Symmetry Partners LLC boosted its position in shares of Broadcom by 0.7% in the fourth quarter. Symmetry Partners LLC now owns 3,363 shares of the semiconductor manufacturer’s stock worth $1,472,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 80.94% of the company’s stock.
NASDAQ:AVGO traded down $7.09 during trading hours on Friday, hitting $470.25. The company had a trading volume of 34,263 shares, compared to its average volume of 1,704,950. The company has a current ratio of 2.21, a quick ratio of 2.06 and a debt-to-equity ratio of 1.68. The business’s 50-day moving average price is $463.00. The firm has a market capitalization of $192.92 billion, a P/E ratio of 43.81, a P/E/G ratio of 1.33 and a beta of 0.93. Broadcom has a 1 year low of $304.18 and a 1 year high of $495.14.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 30th. Investors of record on Tuesday, June 22nd were paid a $3.60 dividend. The ex-dividend date of this dividend was Monday, June 21st. This represents a $14.40 dividend on an annualized basis and a dividend yield of 3.06%. Broadcom’s dividend payout ratio (DPR) is presently 78.05%.
Broadcom Company Profile
Broadcom Inc designs, develops, and supplies semiconductor infrastructure software solutions. It offers 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's infrastructure software solutions enable customers to plan, develop, automate, manage, and secure applications across mainframe, distributed, mobile, and cloud platforms.
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