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

Broadcom Inc. (NASDAQ:AVGOGet Free Report) has earned a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $1,296.91.

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald raised their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a report on Monday, April 8th. Barclays raised their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. UBS Group lifted their target price on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research note on Thursday, March 21st.

View Our Latest Stock Analysis on AVGO

Broadcom Trading Down 2.6 %

AVGO stock opened at $1,328.55 on Friday. The company has a market capitalization of $615.68 billion, a PE ratio of 49.24, a P/E/G ratio of 2.78 and a beta of 1.25. Broadcom has a 12 month low of $776.38 and a 12 month high of $1,445.40. The firm’s 50-day moving average is $1,333.66 and its 200 day moving average is $1,216.54. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 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 for the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter last year, the firm posted $9.83 EPS. The firm’s revenue was up 34.2% compared to the same quarter last year. On average, research analysts anticipate that Broadcom will post 36.06 EPS for the current year.

Broadcom Dividend Announcement

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

Insider Activity at Broadcom

In related news, Director Justine Page sold 110 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now owns 3,125 shares of the company’s stock, valued at $4,134,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the sale, the insider now owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 110 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is owned by company insiders.

Institutional Trading of Broadcom

Hedge funds have recently added to or reduced their stakes in the company. Pathway Financial Advisors LLC increased its stake in Broadcom by 11.1% in the fourth quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock valued at $1,041,000 after purchasing an additional 93 shares during the last quarter. Todd Asset Management LLC increased its stake in Broadcom by 26.3% in the fourth quarter. Todd Asset Management LLC now owns 79,765 shares of the semiconductor manufacturer’s stock valued at $89,038,000 after purchasing an additional 16,608 shares during the last quarter. Benjamin Edwards Inc. grew its position in shares of Broadcom by 3.0% during the fourth quarter. Benjamin Edwards Inc. now owns 3,141 shares of the semiconductor manufacturer’s stock worth $3,506,000 after acquiring an additional 91 shares during the last quarter. Barry Investment Advisors LLC purchased a new position in shares of Broadcom during the fourth quarter worth approximately $228,000. Finally, Stegent Equity Advisors Inc. purchased a new position in shares of Broadcom during the fourth quarter worth approximately $271,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

About Broadcom

(Get Free Report

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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Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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