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 0.8 %
Shares of AVGO traded down $4.56 during mid-day trading on Monday, hitting $553.67. The company had a trading volume of 3,750 shares, compared to its average volume of 2,396,287. The stock has a market cap of $223.58 billion, a PE ratio of 27.68, a P/E/G ratio of 1.13 and a beta of 1.08. The business's 50-day simple moving average is $515.86 and its 200-day simple moving average is $561.49. Broadcom has a 1-year low of $462.66 and a 1-year high of $677.76. The company has a quick ratio of 1.90, a current ratio of 2.14 and a debt-to-equity ratio of 1.87.
Broadcom (NASDAQ:AVGO - Get Rating) last released its earnings results on Thursday, May 26th. The semiconductor manufacturer reported $8.39 earnings per share for the quarter, beating the consensus estimate of $7.88 by $0.51. The company had revenue of $8.10 billion for the quarter, compared to analysts' expectations of $7.91 billion. Broadcom had a return on equity of 56.29% and a net margin of 29.76%. The business's revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.89 EPS. Sell-side analysts forecast that Broadcom will post 33.96 earnings per share for the current year.
Broadcom Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 22nd were given a $4.10 dividend. The ex-dividend date was Tuesday, June 21st. This represents a $16.40 dividend on an annualized basis and a dividend yield of 2.96%. Broadcom's dividend payout ratio (DPR) is presently 81.31%.
Wall Street Analysts Forecast Growth
AVGO has been the subject of a number of research analyst reports. StockNews.com raised shares of Broadcom from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 13th. Bank of America decreased their target price on Broadcom from $780.00 to $625.00 and set a "buy" rating for the company in a research note on Wednesday, June 29th. Piper Sandler reissued a "buy" rating and issued a $750.00 price objective on shares of Broadcom in a research note on Tuesday, May 24th. KeyCorp increased their price objective on Broadcom from $720.00 to $780.00 and gave the company an "overweight" rating in a report on Friday, May 27th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Broadcom from $700.00 to $635.00 in a research report on Wednesday, July 20th. Four investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $680.46.