Broadcom Inc. (NASDAQ:AVGO – Free Report) shares are going to split before the market opens on Monday, July 15th. The 10-1 split was announced on Wednesday, June 12th. The newly minted shares will be payable to shareholders after the market closes on Friday, July 12th.
Broadcom Trading Down 0.3 %
Shares of NASDAQ:AVGO opened at $1,700.67 on Friday. Broadcom has a 12-month low of $795.09 and a 12-month high of $1,851.62. The company has a market capitalization of $791.64 billion, a PE ratio of 73.15, a PEG ratio of 3.03 and a beta of 1.17. The business has a 50 day moving average of $182.63 and a two-hundred day moving average of $144.98. The company has a current ratio of 1.25, a quick ratio of 1.16 and a debt-to-equity ratio of 1.02.
Broadcom (NASDAQ:AVGO – Get Free Report) last announced its earnings results on Wednesday, June 12th. The semiconductor manufacturer reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.02. The business 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 business’s quarterly revenue was up 43.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 EPS. As a group, analysts forecast that Broadcom will post 37.19 EPS for the current year.
Broadcom Cuts Dividend
Analyst Upgrades and Downgrades
AVGO has been the subject of several research reports. Mizuho boosted their price target on Broadcom from $162.50 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Morgan Stanley reiterated an “overweight” rating and set a $165.80 price target on shares of Broadcom in a research report on Monday, June 10th. Melius initiated coverage on Broadcom in a research report on Monday, June 3rd. They set a “buy” rating and a $185.00 price target for the company. Wells Fargo & Company boosted their price target on Broadcom from $143.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 13th. Finally, UBS Group boosted their price target on Broadcom from $161.00 to $173.50 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Three equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $170.64.
Check Out Our Latest Stock Analysis on Broadcom
Insider Buying and Selling
In related news, Director Justine Page sold 2,540 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $175.03, for a total transaction of $444,566.04. Following the transaction, the director now owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.00% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Broadcom
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Broadcom by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock valued at $59,181,244,000 after purchasing an additional 1,303,462 shares in the last quarter. Capital International Investors raised its position in Broadcom by 4.5% in the 4th quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer’s stock valued at $26,044,294,000 after purchasing an additional 1,006,223 shares in the last quarter. Norges Bank acquired a new stake in Broadcom in the 4th quarter valued at about $6,225,987,000. Northern Trust Corp raised its position in Broadcom by 3.7% in the 4th quarter. Northern Trust Corp now owns 4,825,465 shares of the semiconductor manufacturer’s stock valued at $5,386,425,000 after purchasing an additional 170,063 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Broadcom by 43.9% in the 1st quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock valued at $5,488,556,000 after acquiring an additional 1,263,957 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.
Broadcom Company Profile
Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.
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