Introduction
Broadcom (AVGO) is one of the largest semiconductor companies in the world. Over the past few years, it has built the company through acquisitions. This has caused revenue to soar. Revenue more than tripled from 2015 until 2019. Broadcom funded these acquisitions with a lot of new debt on its balance sheet. It also differentiated its business through these acquisitions. It became a combination of semiconductors and infrastructure software.
This worked out very well over the past few years. Revenue accelerated impressively and they've been able to increase dividends as well.