Analyst Price Forecast Suggests 6.03% Downside
As of June 1, 2023, the average one-year price target for Broadcom is 742.33. The forecasts range from a low of 589.84 to a high of $971.25. The average price target represents a decrease of 6.03% from its latest reported closing price of 789.95.
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The projected annual revenue for Broadcom is 35,900MM, an increase of 4.32%. The projected annual non-GAAP EPS is 41.57.
- For more in-depth coverage of Broadcom, view the free, crowd-sourced company research report on Finpedia.
Broadcom Declares $4.60 Dividend
On March 2, 2023 the company declared a regular quarterly dividend of $4.60 per share ($18.40 annualized). Shareholders of record as of March 22, 2023 received the payment on March 31, 2023. Previously, the company paid $4.60 per share.
At the current share price of $789.95 / share, the stock's dividend yield is 2.33%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.42%, the lowest has been 2.43%, and the highest has been 6.93%. The standard deviation of yields is 0.66 (n=236).
The current dividend yield is 1.66 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.60. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.42%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 3498 funds or institutions reporting positions in Broadcom. This is an increase of 66 owner(s) or 1.92% in the last quarter. Average portfolio weight of all funds dedicated to AVGO is 0.83%, an increase of 4.87%. Total shares owned by institutions increased in the last three months by 6.88% to 450,770K shares. The put/call ratio of AVGO is 1.19, indicating a bearish outlook.
What are Other Shareholders Doing?
Ofi Invest Asset Management holds 33,717K shares representing 8.09% ownership of the company.
Capital International Investors holds 27,586K shares representing 6.62% ownership of the company. In it's prior filing, the firm reported owning 30,225K shares, representing a decrease of 9.56%. The firm increased its portfolio allocation in AVGO by 0.36% over the last quarter.
Capital World Investors holds 27,354K shares representing 6.56% ownership of the company. In it's prior filing, the firm reported owning 29,366K shares, representing a decrease of 7.36%. The firm increased its portfolio allocation in AVGO by 3.63% over the last quarter.
Capital Research Global Investors holds 21,168K shares representing 5.08% ownership of the company. In it's prior filing, the firm reported owning 21,797K shares, representing a decrease of 2.97%. The firm increased its portfolio allocation in AVGO by 5.22% over the last quarter.
AWSHX - WASHINGTON MUTUAL INVESTORS FUND holds 14,627K shares representing 3.51% ownership of the company. In it's prior filing, the firm reported owning 14,580K shares, representing an increase of 0.32%. The firm increased its portfolio allocation in AVGO by 19.92% over the last quarter.
Broadcom Background Information
(This description is provided by the company.)
Broadcom Inc., a Delaware corporation headquartered in San Jose, CA, is a global technology leader that designs, develops and supplies a broad range of semiconductor and infrastructure software solutions. Broadcom's category-leading product portfolio serves critical markets including data center, networking, enterprise software, broadband, wireless, storage and industrial. Broadcom Inc solutions include data center networking and storage, enterprise, mainframe and cyber security software focused on automation, monitoring and security, smartphone components, telecoms and factory automation.
Key filings for this company:
- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 10-K (MARK ONE) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
This story originally appeared on Fintel.
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