3 Reasons Broadcom Is a Dirt Cheap Tech Dividend Stock
Shares of chip giant Broadcom (NASDAQ: AVGO) are having a great year. The stock price is up 46% over the last 12-month stretch -- including up 10% so far in 2021 -- as the global chip shortage is sending sales higher. The dividend Broadcom offers sweetens the deal, currently yielding 3% a year. But there's more left in the tank.
The company's latest quarterly earnings report paints a rosy picture for this tech stock's performance in 2021. Here are three reasons why shares, despite their relatively high price, are still dirt cheap.
During the fiscal 2021 second quarter (the three months ended May 2, 2021), total revenue increased 15% year over year to $6.61 billion. Driving this increase was a 20% rise in semiconductor sales, which make up about three-fourths of Broadcom's business.
Source Fool.com
