Broadcom Co. (BRCM) Announces Quarterly Dividend of $0.12
Broadcom (NASDAQ:BRCM) declared a quarterly dividend on Thursday, August 14th, American Banking and Market News reports. Investors of record on Friday, August 29th will be given a dividend of 0.12 per share on Monday, September 15th. This represents a $0.48 dividend on an annualized basis and a yield of 1.27%.
A number of research firms have recently commented on BRCM. Analysts at Jefferies Group reiterated a “buy” rating on shares of Broadcom in a research note on Monday. On the ratings front, analysts at Bernstein raised their price target on shares of Broadcom from $44.00 to $46.00 in a research note on Wednesday, July 23rd. They now have an “outperform” rating on the stock. Finally, analysts at Susquehanna raised their price target on shares of Broadcom from $40.00 to $45.00 in a research note on Wednesday, July 23rd. They now have a “positive” rating on the stock. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have given a buy rating to the stock. Broadcom has a consensus rating of “Buy” and a consensus price target of $40.88.
Broadcom (NASDAQ:BRCM) traded up 0.04% on Thursday, hitting $37.735. The stock had a trading volume of 1,597,159 shares. Broadcom has a 52-week low of $24.60 and a 52-week high of $40.74. The stock’s 50-day moving average is $37.74 and its 200-day moving average is $33.13. The company has a market cap of $22.301 billion and a price-to-earnings ratio of 34.45.
Broadcom (NASDAQ:BRCM) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.65 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.61 by $0.04. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. Analysts expect that Broadcom will post $2.84 EPS for the current fiscal year.
In other Broadcom news, EVP Daniel A. Marotta sold 11,228 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $37.30, for a total transaction of $418,804.40. The sale was disclosed in a document filed with the SEC, which is available at this link.
Broadcom Corporation (NASDAQ:BRCM), is a global semiconductor solution for wired and wireless communications.
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