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

Broadcom Inc. (NASDAQ:AVGO) announced a quarterly dividend on Tuesday, March 3rd, NASDAQ Dividends reports. Investors of record on Monday, March 23rd will be given a dividend of 0.65 per share by the semiconductor manufacturer on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, March 23rd.

Broadcom has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 15 years. Broadcom has a payout ratio of 33.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Broadcom to earn $6.38 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 40.8%.

Broadcom Price Performance

NASDAQ AVGO opened at $310.51 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. Broadcom has a 12 month low of $138.10 and a 12 month high of $414.61. The stock has a market cap of $1.47 trillion, a price-to-earnings ratio of 60.65, a PEG ratio of 0.69 and a beta of 1.22. The company’s 50 day moving average is $330.43 and its two-hundred day moving average is $344.98.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. The business had revenue of $19.31 billion during the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company’s revenue was up 29.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.60 earnings per share. As a group, research analysts anticipate that Broadcom will post 5.38 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 50,488 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $16,236,940.80. Following the completion of the sale, the insider directly owned 278,141 shares in the company, valued at $89,450,145.60. This trade represents a 15.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 39,116 shares of Broadcom stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the transaction, the insider directly owned 74,626 shares of the company’s stock, valued at $24,000,467.86. The trade was a 34.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 528,970 shares of company stock worth $177,150,321. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Broadcom

Hedge funds and other institutional investors have recently made changes to their positions in the company. ROSS JOHNSON & Associates LLC raised its position in Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 66 shares during the period. SWAN Capital LLC boosted its position in shares of Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 55 shares during the period. Longfellow Investment Management Co. LLC bought a new position in shares of Broadcom during the second quarter valued at approximately $27,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Broadcom in the second quarter worth approximately $28,000. Finally, JCIC Asset Management Inc. bought a new stake in shares of Broadcom during the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

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.