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

Broadcom Inc. (NASDAQ:AVGO) announced a quarterly dividend on Wednesday, September 2nd. Shareholders of record on Monday, September 21st will be paid a dividend of 0.65 per share by the semiconductor manufacturer on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, September 21st.

Broadcom has raised its dividend by an average of 0.1%annually 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. 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%

NASDAQ AVGO opened at $367.24 on Thursday. The company has a market cap of $1.75 trillion, a price-to-earnings ratio of 61.21, a P/E/G ratio of 0.71 and a beta of 1.44. Broadcom has a 52 week low of $289.96 and a 52 week high of $495.00. The business has a 50 day moving average price of $384.15 and a 200-day moving average price of $377.14. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.10. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same period in the prior year, the firm earned $1.69 earnings per share. Broadcom’s revenue for the quarter was up 85.5% on a year-over-year basis. As a group, equities analysts expect that Broadcom will post 10.24 earnings per share for the current fiscal year.

Insider Transactions at Broadcom

In related news, Director Justine Page sold 1,602 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the sale, the director directly owned 17,426 shares in the company, valued at $6,514,884.36. This represents a 8.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction that occurred 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 completion of the sale, the director owned 31,326 shares of the company’s stock, valued at approximately $12,072,413.88. This trade represents a 5.69% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after acquiring an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after purchasing an additional 756 shares during the last quarter. United Bank increased its holdings in shares of Broadcom by 76.5% in the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after purchasing an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of Broadcom by 10.1% in the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC raised its stake in shares of Broadcom by 10.5% in the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock worth $1,098,000 after purchasing an additional 378 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other 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.