Broadcom Inc. (NASDAQ:AVGO) Expected to Announce Quarterly Sales of $7.91 Billion

Equities analysts predict that Broadcom Inc. (NASDAQ:AVGOGet Rating) will post sales of $7.91 billion for the current quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Broadcom’s earnings, with the highest sales estimate coming in at $7.93 billion and the lowest estimate coming in at $7.90 billion. Broadcom reported sales of $6.61 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 19.7%. The business is scheduled to issue its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Broadcom will report full year sales of $31.96 billion for the current financial year, with estimates ranging from $31.44 billion to $32.55 billion. For the next fiscal year, analysts anticipate that the company will report sales of $33.51 billion, with estimates ranging from $32.67 billion to $34.85 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Broadcom.

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

AVGO has been the subject of a number of recent research reports. UBS Group lifted their price target on shares of Broadcom from $665.00 to $690.00 and gave the stock a “buy” rating in a research note on Friday, March 4th. Morgan Stanley cut their target price on shares of Broadcom from $723.00 to $703.00 and set an “overweight” rating on the stock in a report on Friday, March 4th. Susquehanna reissued a “buy” rating and issued a $680.00 price objective on shares of Broadcom in a research note on Tuesday, March 1st. Barclays upped their price target on shares of Broadcom from $650.00 to $700.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 12th. Finally, Rosenblatt Securities upped their price target on shares of Broadcom from $750.00 to $775.00 and gave the stock a “buy” rating in a research note on Friday, March 4th. Five equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $672.48.

NASDAQ AVGO opened at $581.17 on Wednesday. The firm has a 50 day simple moving average of $594.45 and a 200-day simple moving average of $587.10. The company has a debt-to-equity ratio of 1.71, a quick ratio of 2.20 and a current ratio of 2.44. Broadcom has a one year low of $419.14 and a one year high of $677.76. The firm has a market cap of $237.28 billion, a price-to-earnings ratio of 33.13, a PEG ratio of 1.18 and a beta of 1.04.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Tuesday, March 22nd were issued 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 2.82%. Broadcom’s dividend payout ratio (DPR) is currently 93.50%.

In other news, CFO Kirsten M. Spears sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $625.86, for a total transaction of $1,877,580.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Diane M. Bryant sold 476 shares of the business’s stock in a transaction that occurred on Tuesday, April 5th. The shares were sold at an average price of $629.55, for a total value of $299,665.80. Following the sale, the director now owns 1,560 shares in the company, valued at $982,098. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,273 shares of company stock valued at $18,818,718. Corporate insiders own 2.30% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Investment Research & Advisory Group Inc. acquired a new position in Broadcom in the fourth quarter valued at about $25,000. TFO TDC LLC bought a new stake in shares of Broadcom in the fourth quarter worth about $25,000. Blue Bell Private Wealth Management LLC bought a new stake in shares of Broadcom in the fourth quarter worth about $25,000. Hanson & Doremus Investment Management bought a new position in shares of Broadcom during the first quarter worth about $26,000. Finally, Focused Wealth Management Inc grew its holdings in shares of Broadcom by 101.0% during the fourth quarter. Focused Wealth Management Inc now owns 40 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 4,000 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

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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