Broadcom (NASDAQ:AVGO) Receives New Coverage from Analysts at Evercore ISI

Evercore ISI started coverage on shares of Broadcom (NASDAQ:AVGO) in a research report report published on Tuesday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $1,620.00 target price on the semiconductor manufacturer’s stock.

Several other equities research analysts also recently issued reports on AVGO. Oppenheimer reissued an outperform rating and set a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Deutsche Bank Aktiengesellschaft reissued a buy rating and set a $1,500.00 price objective on shares of Broadcom in a research report on Monday, April 8th. Susquehanna increased their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a positive rating in a report on Wednesday, February 28th. Barclays assumed coverage on shares of Broadcom in a report on Wednesday, March 20th. They set an overweight rating and a $1,405.00 target price for the company. Finally, Mizuho increased their target price on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a buy rating in a report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of Moderate Buy and an average price target of $1,281.09.

Broadcom Stock Up 1.4 %

Shares of AVGO stock opened at $1,329.06 on Tuesday. The firm has a fifty day moving average of $1,306.49 and a 200-day moving average of $1,114.01. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. Broadcom has a 12-month low of $601.29 and a 12-month high of $1,438.17. The company has a market capitalization of $615.91 billion, a price-to-earnings ratio of 49.26, a P/E/G ratio of 2.74 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the prior year, the firm earned $9.83 earnings per share. The firm’s revenue was up 34.2% compared to the same quarter last year. As a group, equities research analysts predict that Broadcom will post 35.95 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares in the company, valued at $22,276,800. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the transaction, the director now directly owns 45 shares in the company, valued at $62,465.85. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock worth $40,306,667 over the last quarter. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Broadcom

Several large investors have recently modified their holdings of the stock. Stuart Chaussee & Associates Inc. bought a new position in Broadcom during the fourth quarter worth about $25,000. PSI Advisors LLC increased its position in Broadcom by 66.7% during the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after acquiring an additional 10 shares during the period. BKM Wealth Management LLC bought a new position in Broadcom during the fourth quarter worth about $29,000. CKW Financial Group bought a new position in Broadcom during the fourth quarter worth about $30,000. Finally, Hanseatic Management Services Inc. bought a new position in Broadcom during the fourth quarter worth about $33,000. 76.43% of the stock is owned by institutional investors.

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.