$8.72 Earnings Per Share Expected for Broadcom Inc. (NASDAQ:AVGO) This Quarter

Equities research analysts expect Broadcom Inc. (NASDAQ:AVGOGet Rating) to announce earnings per share of $8.72 for the current quarter, according to Zacks. Nine analysts have made estimates for Broadcom’s earnings, with the highest EPS estimate coming in at $8.79 and the lowest estimate coming in at $8.61. Broadcom reported earnings per share of $6.62 during the same quarter last year, which would suggest a positive year over year growth rate of 31.7%. The firm is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Broadcom will report full-year earnings of $35.67 per share for the current year, with EPS estimates ranging from $34.66 to $38.33. For the next year, analysts expect that the firm will post earnings of $38.35 per share, with EPS estimates ranging from $37.34 to $39.71. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Broadcom.

Broadcom (NASDAQ:AVGOGet Rating) last announced its quarterly earnings data on Thursday, March 3rd. The semiconductor manufacturer reported $8.39 EPS for the quarter, beating the Zacks’ consensus estimate of $8.08 by $0.31. The firm had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.61 billion. Broadcom had a net margin of 27.47% and a return on equity of 50.20%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the firm earned $5.78 earnings per share.

A number of brokerages have issued reports on AVGO. KeyCorp increased their target price on shares of Broadcom from $710.00 to $720.00 and gave the company an “overweight” rating in a report on Friday, March 4th. Barclays increased their target price on shares of Broadcom from $650.00 to $700.00 and gave the company an “overweight” rating in a report on Wednesday, January 12th. Morgan Stanley dropped their target price on shares of Broadcom from $723.00 to $703.00 and set an “overweight” rating for the company in a report on Friday, March 4th. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $700.00 to $715.00 and gave the company an “overweight” rating in a report on Friday, March 4th. Finally, Susquehanna Bancshares reaffirmed a “buy” rating and issued a $680.00 target price on shares of Broadcom in a report on Tuesday, March 1st. Five analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Buy” and an average target price of $672.48.

Shares of NASDAQ:AVGO opened at $573.85 on Tuesday. The company has a quick ratio of 2.20, a current ratio of 2.44 and a debt-to-equity ratio of 1.71. The company has a market cap of $234.29 billion, a P/E ratio of 32.72, a PEG ratio of 1.26 and a beta of 1.01. Broadcom has a 52 week low of $419.14 and a 52 week high of $677.76. The company has a 50-day moving average price of $596.26 and a 200 day moving average price of $578.30.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Tuesday, March 22nd were paid a $4.10 dividend. The ex-dividend date of this dividend was Monday, March 21st. This represents a $16.40 annualized dividend and a yield of 2.86%. Broadcom’s payout ratio is currently 93.50%.

In related news, Director Raul J. Fernandez purchased 68 shares of the firm’s stock in a transaction on Thursday, March 10th. The shares were bought at an average price of $582.50 per share, for a total transaction of $39,610.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Diane M. Bryant sold 476 shares of Broadcom stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $629.55, for a total transaction of $299,665.80. The disclosure for this sale can be found here. Insiders sold a total of 31,273 shares of company stock valued at $18,818,718 over the last ninety days. 2.30% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Investment Research & Advisory Group Inc. acquired a new position in shares of Broadcom during the 4th quarter valued at $25,000. Blue Bell Private Wealth Management LLC acquired a new position in shares of Broadcom during the 4th quarter valued at $25,000. Focused Wealth Management Inc lifted its holdings in shares of Broadcom by 101.0% during the 4th quarter. Focused Wealth Management Inc now owns 40 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 4,000 shares in the last quarter. City State Bank acquired a new position in shares of Broadcom during the 4th quarter valued at $234,000. Finally, TFO TDC LLC acquired a new position in shares of Broadcom during the 4th quarter valued at $25,000. Institutional investors own 80.22% of the company’s stock.

Broadcom Company Profile (Get Rating)

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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