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. It provides set-top box system-on-chips (SoCs); cable, digital subscriber line, and passive optical networking central office/consumer premise equipment SoCs; wireless local area network access point SoCs; Ethernet switching and routing merchant silicon products; embedded processors and controllers; serializer/deserializer application specific integrated circuits; optical and copper, and physical layers; and fiber optic transmitter and receiver components. The company also offers RF front end modules, filters, and power amplifiers; Wi-Fi, Bluetooth, and global positioning system/global navigation satellite system SoCs; custom touch controllers; serial attached small computer system interface, and redundant array of independent disks controllers and adapters; peripheral component interconnect express switches; fiber channel host bus adapters; read channel based SoCs; custom flash controllers; preamplifiers; and optocouplers, industrial fiber optics, and motion control encoders and subsystems. Its products are used in various applications, including enterprise and data center networking, home connectivity, set-top boxes, broadband access, telecommunication equipment, smartphones and base stations, data center servers and storage systems, factory automation, power generation and alternative energy systems, and electronic displays. Broadcom Inc. was incorporated in 2018 and is headquartered in San Jose, California.
Broadcom Trading Down 1.1 %
NASDAQ:AVGO opened at $545.53 on Tuesday. Broadcom has a 1-year low of $462.66 and a 1-year high of $677.76. The company has a current ratio of 2.14, a quick ratio of 1.90 and a debt-to-equity ratio of 1.87. The stock has a 50-day moving average of $518.00 and a 200-day moving average of $561.41. The firm has a market cap of $220.30 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 1.12 and a beta of 1.08.
Broadcom (NASDAQ:AVGO - Get Rating) last announced its earnings results on Thursday, May 26th. The semiconductor manufacturer reported $8.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.88 by $0.51. The firm had revenue of $8.10 billion during the quarter, compared to analyst estimates of $7.91 billion. Broadcom had a return on equity of 56.29% and a net margin of 29.76%. The business's revenue was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.89 EPS. As a group, sell-side analysts forecast that Broadcom will post 33.96 EPS for the current year.
Broadcom Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 22nd were paid a $4.10 dividend. The ex-dividend date of this dividend was Tuesday, June 21st. This represents a $16.40 dividend on an annualized basis and a dividend yield of 3.01%. Broadcom's dividend payout ratio (DPR) is currently 81.31%.
Analysts Set New Price Targets
Several research analysts have recently weighed in on AVGO shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Broadcom from $700.00 to $635.00 in a research note on Wednesday, July 20th. Piper Sandler reaffirmed a "buy" rating and issued a $750.00 price objective on shares of Broadcom in a report on Tuesday, May 24th. Truist Financial increased their price objective on shares of Broadcom to $658.00 in a report on Friday, May 27th. Mizuho increased their target price on shares of Broadcom from $700.00 to $725.00 and gave the company a "buy" rating in a research report on Friday, May 27th. Finally, KeyCorp raised their price objective on shares of Broadcom from $720.00 to $780.00 and gave the company an "overweight" rating in a research report on Friday, May 27th. Four research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $680.46.