Broadcom Inc. (AVGO) To Go Ex-Dividend on March 20th

Broadcom Inc. (NASDAQ:AVGO) declared a quarterly dividend on Wednesday, March 5th, RTT News reports. Investors of record on Thursday, March 20th will be given a dividend of 0.59 per share by the semiconductor manufacturer on Monday, March 31st. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Thursday, March 20th.

Broadcom has increased its dividend payment by an average of 13.4% per year over the last three years and has raised its dividend annually for the last 15 consecutive years. Broadcom has a dividend payout ratio of 30.2% 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 $2.36 annual dividend with an expected future payout ratio of 37.0%.

Broadcom Price Performance

NASDAQ AVGO opened at $194.50 on Tuesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock’s fifty day moving average price is $217.28 and its 200 day moving average price is $194.43. Broadcom has a 1 year low of $119.76 and a 1 year high of $251.88. The company has a market cap of $914.53 billion, a price-to-earnings ratio of 158.65, a PEG ratio of 2.29 and a beta of 1.01.

Insider Buying and Selling at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 12,570 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $229.62, for a total value of $2,886,323.40. Following the completion of the transaction, the chief financial officer now owns 325,443 shares of the company’s stock, valued at $74,728,221.66. This trade represents a 3.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Diane M. Bryant sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the transaction, the director now directly owns 6,460 shares of the company’s stock, valued at $1,464,352.80. This represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 184,738 shares of company stock valued at $43,395,200 in the last 90 days. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Broadcom stock. Brighton Jones LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 21.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,683 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,322 shares during the quarter. Brighton Jones LLC’s holdings in Broadcom were worth $6,882,000 as of its most recent filing with the SEC. 76.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AVGO. Mizuho cut their price target on Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. KeyCorp increased their price target on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Morgan Stanley increased their price target on Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. TD Cowen increased their price target on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Hsbc Global Res raised Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $231.48.

About Broadcom

Broadcom Inc designs, develops, and supplies various 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 in two segments, Semiconductor Solutions and Infrastructure Software.