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Technology Stocks : Semi Equipment Analysis
SOXX 309.40+1.0%Dec 5 4:00 PM EST
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To: Gottfried who wrote (81916)12/6/2018 8:40:51 PM
From: Donald Wennerstrom1 Recommendation

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AVGO earnings report hit a "homerun".

Broadcom beats by $0.27, reports revs in-line; guides FY19; increases dividend 51%
4:23 PM ET 12/6/18 | Briefing.com

Reports Q4 (Oct) earnings of $5.85 per share, $0.27 better than the S&P Capital IQ Consensus of $5.58; revenues rose 12.4% year/year to $5.45 bln vs the $5.4 bln S&P Capital IQ Consensus.

"Looking forward to fiscal year 2019, we expect another year of double digit revenue growth. Sustained demand within our semiconductor segment will be augmented by the newly acquired mainframe and enterprise software businesses to our infrastructure software segment. We also expect operating margin to hit another record in fiscal year 2019 driven by improved operating leverage." "Free cash flow from operations grew 50% in fiscal year 2018 to $8.2 billion. As a result, we are raising our target dividend by 51% to $2.65 per share per quarter for fiscal year 2019," said Tom Krause, CFO of Broadcom Inc.

"Looking ahead for the year, we expect sustained revenue growth and improving operating leverage to accelerate cash generation from operations. Our capital allocation strategy remains unchanged for fiscal year 2019. We plan to return 50% of our prior fiscal year free cash flows to stockholders in the form of dividends and use the balance of our free cash flows to buy back stock and support additional acquisitions, while remaining focused on maintaining our investment grade credit rating.

"Co issues guidance for FY19, sees FY19 revs of $24.5 bln, including CA acquisition, may not compare to the $24.03 bln S&P Capital IQ Consensus; operating margin 51%.
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