Shares of Broadcom Inc. (NASDAQ:AVGO – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the twenty-seven brokerages that currently cover the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and twenty-six have given the company a buy rating. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $240.08.
A number of research analysts recently commented on AVGO stock. Bank of America reaffirmed a “buy” rating and gave the stock a $215.00 price target (up from $200.00) in a report on Monday, June 24th. Barclays increased their price target on Broadcom from $150.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, June 13th. Oppenheimer lowered their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. StockNews.com raised Broadcom from a “hold” rating to a “buy” rating in a report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $150.00 price target on shares of Broadcom in a report on Monday, April 8th.
Check out our latest research report on AVGO
Insider transactions at Broadcom
In related news, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction dated Thursday, July 11. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the sale, the CEO now owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The sale was disclosed in a filing with the SEC, available on the SEC website. In related news, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction dated Thursday, July 11. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the sale, the CEO now owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The sale was disclosed in a filing with the SEC, available on the SEC website. Also, Director Justine Page sold 2,540 shares of the company’s stock in a transaction dated Thursday, June 20. The shares were sold at an average price of $175.03, for a total value of $444,566.04. Following the sale, the Director now directly owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
Institutional investors weigh Broadcom
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVGO. Stuart Chaussee & Associates Inc. purchased a new stake in Broadcom during the fourth quarter worth about $25,000. Legend Financial Advisors Inc. increased its stake in shares of Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 8 shares in the last quarter. PSI Advisors LLC increased its stake in shares of Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 10 shares in the last quarter. BKM Wealth Management LLC purchased a new position in shares of Broadcom during the fourth quarter worth about $29,000. Finally, Richardson Capital Management LLC bought a new position in shares of Broadcom during the first quarter worth about $29,000. 76.43% of the shares are currently owned by hedge funds and other institutional investors.
Broadcom trades down 2.0%
Broadcom shares opened at $157.35 on Friday. The company has a 50-day simple moving average of $185.77 and a 200-day simple moving average of $147.00. The company has a market cap of $73.24 billion, a price-to-earnings ratio of 6.77, a price-to-earnings/growth ratio of 2.83 and a beta of 1.17. Broadcom has a 52-week low of $79.51 and a 52-week high of $185.16. The company has a quick ratio of 1.16, a current ratio of 1.25 and a debt-to-equity ratio of 1.02.
Broadcom (NASDAQ:AVGO – Get Free Report) last announced its quarterly earnings results on Wednesday, June 12. The semiconductor manufacturer reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. The company had revenue of $12.49 billion during the quarter, compared to the consensus estimate of $12.06 billion. Broadcom had a return on equity of 35.82% and a net margin of 24.10%. The company’s revenue increased 43.0% year over year. During the same period last year, the company posted $0.95 EPS. Analysts predict that Broadcom will post 3.74 EPS for the current year.
Broadcom cuts dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 24th were paid a dividend of $0.525 per share. This represents a dividend of $2.10 on an annualized basis and a dividend yield of 1.33%. The ex-dividend date for this dividend was Monday, June 24th. Broadcom’s payout ratio is 9.03%.
Broadcom Company Profile
(Get Free Report
Broadcom Inc designs, develops and markets a variety of semiconductor devices with a focus on complex digital and mixed-signal complementary metal-oxide semiconductor devices and analog III-V-based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.
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