Broadcom (NASDAQ:AVGO) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of Broadcom (NASDAQ:AVGO) to a moderate buy rating in a report released on Thursday,Zacks.com reports.

AVGO has been the topic of a number of other reports. Argus increased their price target on shares of Broadcom from $285.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, September 8th. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $325.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Deutsche Bank Aktiengesellschaft set a $400.00 price target on shares of Broadcom and gave the company a “buy” rating in a report on Tuesday, October 14th. Oppenheimer reaffirmed an “outperform” rating and issued a $360.00 price target (up previously from $325.00) on shares of Broadcom in a report on Friday, September 5th. Finally, Barclays set a $450.00 target price on Broadcom and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Three investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $374.21.

Broadcom Trading Down 1.9%

NASDAQ:AVGO opened at $340.20 on Thursday. Broadcom has a 1 year low of $138.10 and a 1 year high of $386.48. The stock’s fifty day moving average price is $348.15 and its two-hundred day moving average price is $300.59. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The company has a market cap of $1.61 trillion, a P/E ratio of 86.79, a P/E/G ratio of 1.16 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion during the quarter, compared to analysts’ expectations of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. As a group, analysts expect that Broadcom will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom’s payout ratio is 60.20%.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 16,558 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the sale, the insider owned 329,302 shares of the company’s stock, valued at $114,468,668.22. This represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kirsten M. Spears sold 7,498 shares of Broadcom stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the transaction, the chief financial officer directly owned 313,330 shares in the company, valued at $108,932,307.80. This trade represents a 2.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,483,192. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Broadcom

A number of large investors have recently added to or reduced their stakes in AVGO. Cheviot Value Management LLC bought a new position in Broadcom during the 1st quarter worth approximately $25,000. Sawyer & Company Inc boosted its stake in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 36 shares during the period. Longfellow Investment Management Co. LLC bought a new position in shares of Broadcom in the second quarter worth approximately $27,000. Legend Financial Advisors Inc. purchased a new position in shares of Broadcom in the second quarter worth $28,000. Finally, Teachers Insurance & Annuity Association of America bought a new stake in Broadcom during the 2nd quarter valued at $28,000. Hedge funds and other 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.