Broadcom (NASDAQ:AVGO) posted its quarterly earnings data on Thursday. The semiconductor manufacturer reported $5.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.35 by $0.04, RTT News reports. Broadcom had a net margin of 13.44% and a return on equity of 34.10%. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.74 billion. During the same quarter last year, the firm posted $5.85 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Broadcom updated its FY 2020
After-Hours guidance to EPS.
Shares of NASDAQ:AVGO opened at $327.80 on Friday. The company has a market capitalization of $126.82 billion, a PE ratio of 17.41, a P/E/G ratio of 1.51 and a beta of 0.90. The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 1.58. Broadcom has a twelve month low of $230.33 and a twelve month high of $325.67. The firm has a 50 day simple moving average of $308.56 and a 200-day simple moving average of $287.27.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be given a dividend of $3.25 per share. This represents a $13.00 annualized dividend and a dividend yield of 3.97%. This is an increase from Broadcom’s previous quarterly dividend of $2.65. Broadcom’s payout ratio is currently 56.29%.
Several research analysts have recently commented on AVGO shares. SunTrust Banks set a $322.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research note on Friday, September 27th. Daiwa Capital Markets lowered shares of Broadcom from a “buy” rating to a “neutral” rating in a research note on Thursday, August 15th. Piper Jaffray Companies reissued a “buy” rating and issued a $345.00 price objective (up previously from $330.00) on shares of Broadcom in a research note on Tuesday. Rosenblatt Securities set a $370.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, Bank of America reissued a “buy” rating on shares of Broadcom in a research note on Monday. Nine investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. Broadcom has a consensus rating of “Buy” and a consensus price target of $322.33.
In other news, insider Mark David Brazeal sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $289.43, for a total transaction of $578,860.00. Also, CEO Hock E. Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $289.43, for a total transaction of $5,788,600.00. Insiders have sold a total of 62,000 shares of company stock valued at $18,432,860 in the last 90 days. Insiders own 3.30% of the company’s stock.
Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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