Brokerages Anticipate Broadcom Inc. (NASDAQ:AVGO) to Post $8.72 Earnings Per Share

Wall Street analysts predict that Broadcom Inc. (NASDAQ:AVGOGet Rating) will post $8.72 earnings per share for the current quarter, according to Zacks. Nine analysts have provided estimates for Broadcom’s earnings. The highest EPS estimate is $8.79 and the lowest is $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 company is scheduled to report its next earnings report after the market closes 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 fiscal year, analysts expect that the business will report earnings of $38.35 per share, with EPS estimates ranging from $37.34 to $39.71. Zacks’ earnings per share averages are a mean average based on a survey of research firms that cover Broadcom.

Broadcom (NASDAQ:AVGOGet Rating) last announced its earnings results on Thursday, March 3rd. The semiconductor manufacturer reported $8.39 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $7.61 billion. During the same period in the previous year, the business earned $5.78 EPS. The company’s revenue was up 15.8% on a year-over-year basis.

Several analysts have issued reports on the stock. Rosenblatt Securities boosted their target price on shares of Broadcom from $750.00 to $775.00 and gave the company a “buy” rating in a research note on Friday, March 4th. UBS Group upped 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. The Goldman Sachs Group dropped their price target on shares of Broadcom from $704.00 to $665.00 and set a “buy” rating on the stock in a research note on Friday, March 4th. StockNews.com started coverage on shares of Broadcom in a research note on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Finally, Susquehanna reaffirmed a “buy” rating and issued a $680.00 price target on shares of Broadcom in a research note on Tuesday, March 1st. Five research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Buy” and a consensus price target of $672.48.

Shares of NASDAQ:AVGO opened at $603.66 on Monday. The company’s fifty day moving average is $594.92 and its two-hundred day moving average is $587.22. The company has a quick ratio of 2.20, a current ratio of 2.44 and a debt-to-equity ratio of 1.71. Broadcom has a 12-month low of $419.14 and a 12-month high of $677.76. The company has a market cap of $246.46 billion, a P/E ratio of 34.42, a price-to-earnings-growth ratio of 1.23 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 paid a $4.10 dividend. This represents a $16.40 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend was Monday, March 21st. Broadcom’s payout ratio is presently 93.50%.

In related news, Director Diane M. Bryant sold 476 shares of the stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $629.55, for a total value of $299,665.80. Following the completion of the sale, the director now owns 1,560 shares in the company, valued at $982,098. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Raul J. Fernandez bought 68 shares of Broadcom stock in a transaction that occurred on Thursday, March 10th. The stock was bought at an average price of $582.50 per share, with a total value of $39,610.00. The disclosure for this purchase can be found here. In the last quarter, insiders sold 31,273 shares of company stock valued at $18,818,718. 2.30% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Ameritas Advisory Services LLC raised its position in Broadcom by 1.5% in the first quarter. Ameritas Advisory Services LLC now owns 4,526 shares of the semiconductor manufacturer’s stock worth $2,850,000 after purchasing an additional 66 shares in the last quarter. Hemington Wealth Management acquired a new position in Broadcom in the first quarter worth about $227,000. Motley Fool Asset Management LLC raised its position in Broadcom by 2.0% in the first quarter. Motley Fool Asset Management LLC now owns 10,849 shares of the semiconductor manufacturer’s stock worth $6,831,000 after purchasing an additional 209 shares in the last quarter. Dowling & Yahnke LLC raised its position in Broadcom by 6.4% in the first quarter. Dowling & Yahnke LLC now owns 9,742 shares of the semiconductor manufacturer’s stock worth $6,134,000 after purchasing an additional 584 shares in the last quarter. Finally, Lester Murray Antman dba SimplyRich raised its position in Broadcom by 15.2% in the first quarter. Lester Murray Antman dba SimplyRich now owns 931 shares of the semiconductor manufacturer’s stock worth $586,000 after purchasing an additional 123 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

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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