Broadcom Inc. (NASDAQ:AVGO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Broadcom Inc. (NASDAQ:AVGO) has received a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and twenty have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $1,285.41.

Several equities research analysts recently commented on the stock. Mizuho boosted their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Benchmark reiterated a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Susquehanna lifted their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. Cantor Fitzgerald increased their target price on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Finally, TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st.

Broadcom Stock Performance

NASDAQ AVGO opened at $1,310.31 on Tuesday. The business’s 50-day moving average price is $1,308.68 and its 200 day moving average price is $1,154.58. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The firm has a market cap of $607.22 billion, a P/E ratio of 48.57, a P/E/G ratio of 2.60 and a beta of 1.25. Broadcom has a 52-week low of $615.86 and a 52-week high of $1,438.17.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.83 EPS. On average, equities research analysts expect that Broadcom will post 35.96 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.60%. Broadcom’s dividend payout ratio is currently 77.84%.

Insider Activity at Broadcom

In other news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,920 shares of company stock valued at $40,306,667. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

Hedge funds have recently made changes to their positions in the business. Stuart Chaussee & Associates Inc. acquired a new position in Broadcom during the 4th quarter valued at about $25,000. Legend Financial Advisors Inc. lifted its position in shares of Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 8 shares during the last quarter. PSI Advisors LLC boosted its position in shares of Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 10 shares during the period. BKM Wealth Management LLC purchased a new position in shares of Broadcom in the fourth quarter worth approximately $29,000. Finally, Richardson Capital Management LLC acquired a new stake in Broadcom during the 1st quarter valued at $29,000. Institutional investors own 76.43% of the company’s stock.

About Broadcom

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.