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.
Wall Street Analysts Forecast Growth
AVGO has been the subject of a number of analyst reports. Bank of America dropped their price objective on Broadcom from $780.00 to $625.00 and set a "buy" rating for the company in a research note on Wednesday, June 29th. Mizuho lifted their price target 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. Truist Financial boosted their price objective on shares of Broadcom to $658.00 in a research note on Friday, May 27th. StockNews.com raised shares of Broadcom from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 13th. Finally, KeyCorp boosted their price target on Broadcom from $720.00 to $780.00 and gave the stock an "overweight" rating in a research report on Friday, May 27th. Four investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus target price of $680.46.
Broadcom Stock Performance
Broadcom stock traded up $12.80 during midday trading on Friday, reaching $558.23. 1,840,020 shares of the company traded hands, compared to its average volume of 1,785,638. Broadcom has a 12 month low of $462.66 and a 12 month high of $677.76. The company has a debt-to-equity ratio of 1.87, a current ratio of 2.14 and a quick ratio of 1.90. The business has a 50 day moving average of $515.86 and a two-hundred day moving average of $561.33. The firm has a market capitalization of $225.42 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08.
Broadcom (NASDAQ:AVGO - Get Rating) last released its quarterly 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. Broadcom had a return on equity of 56.29% and a net margin of 29.76%. The firm had revenue of $8.10 billion for the quarter, compared to analysts' expectations of $7.91 billion. During the same period in the prior year, the firm earned $5.89 EPS. The company's revenue was up 22.6% compared to the same quarter last year. As a group, research analysts predict that Broadcom will post 33.96 earnings per share for the current year.
Broadcom Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 22nd were paid a dividend of $4.10 per share. The ex-dividend date was Tuesday, June 21st. This represents a $16.40 dividend on an annualized basis and a dividend yield of 2.94%. Broadcom's dividend payout ratio is currently 81.31%.