Broadcom (NASDAQ:AVGO) Shares Set to Split on Monday, July 15th

Shares of Broadcom Inc. (NASDAQ:AVGO) are scheduled to split on the morning of Monday, July 15th. The 10-1 split was announced on Wednesday, June 12th. The newly issued shares will be payable to shareholders after the closing bell on Friday, July 12th.

Broadcom Stock Up 1.2 %

Shares of AVGO opened at $1,605.53 on Friday. The company has a market capitalization of $747.36 billion, a price-to-earnings ratio of 69.06, a PEG ratio of 2.76 and a beta of 1.17. Broadcom has a 52 week low of $795.09 and a 52 week high of $1,851.62. The stock’s 50-day moving average price is $1,433.70 and its 200-day moving average price is $1,302.33. The company has a quick ratio of 1.16, a current ratio of 1.25 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, June 12th. The semiconductor manufacturer reported $10.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.78 by $0.18. Broadcom had a return on equity of 35.82% and a net margin of 24.10%. The company had revenue of $12.49 billion during the quarter, compared to the consensus estimate of $12.06 billion. During the same period in the previous year, the company posted $9.51 earnings per share. Broadcom’s revenue for the quarter was up 43.0% on a year-over-year basis. On average, sell-side analysts predict that Broadcom will post 37.19 EPS for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 24th were given a dividend of $5.25 per share. The ex-dividend date of this dividend was Monday, June 24th. This represents a $21.00 annualized dividend and a yield of 1.31%. Broadcom’s dividend payout ratio is presently 90.32%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Evercore ISI increased their target price on shares of Broadcom from $1,620.00 to $2,010.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. Jefferies Financial Group increased their price target on Broadcom from $1,550.00 to $2,050.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. TD Cowen boosted their price objective on Broadcom from $1,500.00 to $1,750.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Barclays increased their target price on Broadcom from $1,500.00 to $2,000.00 and gave the company an “overweight” rating in a research report on Thursday, June 13th. Finally, Melius Research assumed coverage on shares of Broadcom in a research note on Monday, June 3rd. They issued a “buy” rating and a $1,850.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $1,673.04.

Insider Activity

In related news, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the sale, the chief executive officer now directly owns 168,096 shares in the company, valued at $220,583,976. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the sale, the chief executive officer now owns 168,096 shares in the company, valued at approximately $220,583,976. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Justine Page sold 110 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the transaction, the director now owns 3,125 shares in the company, valued at $4,134,375. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,364 shares of company stock valued at $13,953,966. 2.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Pathway Financial Advisors LLC increased its holdings in Broadcom by 11.1% in the 4th quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock valued at $1,041,000 after purchasing an additional 93 shares during the last quarter. Todd Asset Management LLC raised its holdings in shares of Broadcom by 26.3% in the 4th quarter. Todd Asset Management LLC now owns 79,765 shares of the semiconductor manufacturer’s stock valued at $89,038,000 after buying an additional 16,608 shares during the period. Benjamin Edwards Inc. lifted its stake in Broadcom by 3.0% during the 4th quarter. Benjamin Edwards Inc. now owns 3,141 shares of the semiconductor manufacturer’s stock worth $3,506,000 after acquiring an additional 91 shares in the last quarter. Barry Investment Advisors LLC purchased a new position in Broadcom during the 4th quarter valued at about $228,000. Finally, Stegent Equity Advisors Inc. purchased a new position in Broadcom during the 4th quarter valued at about $271,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Company Profile

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.