Published On: Sat, Sep 10th, 2016

Avago Technologies Ltd. (avgo) Announces Quarterly Dividend of $0.51

Avago Technologies Ltd. (NASDAQ:avgo) declared a quarterly dividend on Friday, September 2nd. Investors of record on Monday, September 19th will be given a dividend of 0.51 per share by the semiconductor manufacturer on Friday, September 30th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, September 15th. This is a positive change from Avago Technologies’s previous quarterly dividend of $0.50.
In other Avago Technologies news, SVP Charlie B. Kawwas sold 4,776 shares of the company’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $165.94, for a total transaction of $792,529.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Patricia H. Mccall sold 8,000 shares of the company’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $154.37, for a total transaction of $1,234,960.00. The disclosure for this sale can be found here. Insiders own 6.20% of the company’s stock.
Shares of Avago Technologies (NASDAQ:AVGO) opened at 160.78 on Friday. The stock’s market capitalization is $63.67 billion. The firm’s 50-day moving average is $170.29 and its 200 day moving average is $155.91. Avago Technologies has a 1-year low of $111.53 and a 1-year high of $179.42.

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Avago Technologies (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 1st. The semiconductor manufacturer reported $2.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.77 by $0.12. Avago Technologies had a negative net margin of 6.20% and a positive return on equity of 31.77%. The company earned $3.80 billion during the quarter. During the same quarter last year, the business posted $2.24 EPS. The business’s revenue for the quarter was up 117.3% on a year-over-year basis. On average, analysts expect that Avago Technologies will post $11.25 EPS for the current fiscal year.
A number of equities research analysts have issued reports on the stock. B. Riley reiterated a “buy” rating and set a $215.00 target price on shares of Avago Technologies in a report on Friday. MKM Partners reiterated a “buy” rating and set a $189.00 target price (up from $188.00) on shares of Avago Technologies in a report on Thursday. RBC Capital Markets reiterated a “top pick” rating and set a $190.00 target price on shares of Avago Technologies in a report on Wednesday. Bank of America Corp. reiterated a “buy” rating and set a $215.00 target price (up from $210.00) on shares of Avago Technologies in a report on Tuesday. Finally, Argus increased their target price on shares of Avago Technologies from $184.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating, thirty-six have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $193.84.
Avago Technologies Company Profile
Broadcom Limited is a semiconductor company. The Company offers a range of products in end-markets, including wired infrastructure, wireless communications, enterprise storage, and industrial and others. The Company’s products are used in various applications, including data center networking, home connectivity, broadband access, telecommunications equipment, smartphones and base stations, data center servers and storage, factory automation, power generation and alternative energy systems, and displays.

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