Broadcom Inc. (NASDAQ:AVGO) saw a 3% increase in stock shares on Wednesday, trading at $1,708.01. Analysts have given the stock several positive ratings, with price targets ranging from $2,000 to $1,500. The company has a market capitalization of $804.93 billion, a P/E ratio of 74.38, and a beta of 1.17.
Broadcom will be undergoing a 10-1 split on July 15th, with new shares issued to shareholders after trading closes on July 12th. The company reported earnings per share of $10.96 for the quarter, beating estimates by $0.18. Revenue for the quarter was $12.49 billion, a 43.0% increase from the previous year.
Broadcom announced a quarterly dividend of $5.25 per share, with an annualized dividend yield of 1.21%. Director Justin Page and insider Mark David Brazeal recently sold shares of the company. Hedge funds have also increased their holdings in Broadcom stock.
Broadcom Inc. specializes in designing and developing semiconductor devices worldwide, with a focus on digital and III-V analog products. The company operates in two segments, semiconductor solutions, and infrastructure software.
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