Broadcom Inc. (NASDAQ:AVGO) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Broadcom Inc. (NASDAQ:AVGO) have been given an average recommendation of “Moderate Buy” by the twenty-seven research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $240.08.

A number of equities research analysts have recently commented on the company. Sanford C. Bernstein increased their target price on Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. Jefferies Financial Group increased their target price on Broadcom from $155.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Barclays increased their target price on Broadcom from $150.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, June 13th. Wells Fargo & Company increased their target price on Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, June 13th. Finally, JPMorgan Chase & Co. increased their target price on Broadcom from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, June 13th.

Broadcom Price Performance

AVGO opened at $151.63 on Friday. The stock has a fifty day simple moving average of $187.39 and a two-hundred day simple moving average of $148.72. The company has a current ratio of 1.25, a quick ratio of 1.16 and a debt-to-equity ratio of 1.02. The company has a market cap of $705.82 billion, a price-to-earnings ratio of 6.52, a price-to-earnings-growth ratio of 2.63 and a beta of 1.17. Broadcom has a 12-month low of $79.51 and a 12-month high of $185.16.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, June 12th. The semiconductor manufacturer reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 43.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 earnings per share. Research analysts predict that Broadcom will post 3.74 earnings per share for the current fiscal year.

Broadcom Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 24th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Monday, June 24th. Broadcom’s dividend payout ratio (DPR) is presently 9.03%.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the completion of the transaction, the chief executive officer now owns 138,191 shares in the company, valued at approximately $235,746,936.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Broadcom news, Director Justine Page sold 2,540 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the transaction, the director now owns 27,480 shares in the company, valued at approximately $4,809,714.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 7,502 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the transaction, the chief executive officer now owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Broadcom

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Broadcom by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after purchasing an additional 1,303,462 shares during the period. Capital International Investors boosted its holdings in shares of Broadcom by 4.5% in the 4th quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer’s stock worth $26,044,294,000 after purchasing an additional 1,006,223 shares during the period. Norges Bank purchased a new position in shares of Broadcom in the 4th quarter worth approximately $6,225,987,000. Northern Trust Corp boosted its holdings in shares of Broadcom by 3.7% in the 4th quarter. Northern Trust Corp now owns 4,825,465 shares of the semiconductor manufacturer’s stock worth $5,386,425,000 after purchasing an additional 170,063 shares during the period. Finally, Jennison Associates LLC boosted 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 worth $5,488,556,000 after purchasing an additional 1,263,957 shares during the period. Hedge funds and other institutional investors 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.