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

Shares of Broadcom Inc. (NASDAQ:AVGOGet Free Report) have earned an average rating of “Moderate Buy” from the thirty-three brokerages that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $435.30.

Several research firms have recently commented on AVGO. Weiss Ratings reiterated a “buy (b)” rating on shares of Broadcom in a report on Monday, December 29th. Wells Fargo & Company upgraded Broadcom from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $410.00 to $430.00 in a report on Thursday, January 15th. TD Cowen reiterated a “buy” rating on shares of Broadcom in a report on Friday, December 12th. Benchmark restated a “buy” rating and issued a $485.00 price objective on shares of Broadcom in a research report on Thursday, March 5th. Finally, Susquehanna reaffirmed a “positive” rating and set a $450.00 price objective (up from $400.00) on shares of Broadcom in a research note on Thursday, December 4th.

View Our Latest Analysis on AVGO

Broadcom Trading Down 1.6%

Shares of AVGO stock opened at $335.97 on Friday. The business has a 50-day moving average price of $333.24 and a two-hundred day moving average price of $344.15. Broadcom has a 12-month low of $138.10 and a 12-month high of $414.61. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The firm has a market cap of $1.59 trillion, a P/E ratio of 65.62, a price-to-earnings-growth ratio of 0.78 and a beta of 1.22.

Broadcom (NASDAQ:AVGOGet Free Report) last released its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. The company had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.Broadcom’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.60 EPS. Equities analysts anticipate that Broadcom will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be paid a $0.65 dividend. The ex-dividend date of this dividend is Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. Broadcom’s dividend payout ratio (DPR) is presently 50.78%.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 70,000 shares of Broadcom stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $347.30, for a total transaction of $24,311,000.00. Following the sale, the chief executive officer owned 132,836 shares of the company’s stock, valued at approximately $46,133,942.80. The trade was a 34.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 30,000 shares of the business’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $347.82, for a total transaction of $10,434,600.00. Following the transaction, the chief financial officer owned 277,237 shares in the company, valued at $96,428,573.34. This represents a 9.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 458,785 shares of company stock valued at $155,508,157 over the last quarter. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Broadcom

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Counsel LLC NY bought a new position in shares of Broadcom during the 2nd quarter valued at approximately $221,000. Waterloo Capital L.P. boosted its position in shares of Broadcom by 7.0% in the second quarter. Waterloo Capital L.P. now owns 48,361 shares of the semiconductor manufacturer’s stock worth $13,331,000 after purchasing an additional 3,180 shares during the period. Providence First Trust Co boosted its position in shares of Broadcom by 1,099.3% in the third quarter. Providence First Trust Co now owns 8,923 shares of the semiconductor manufacturer’s stock worth $2,944,000 after purchasing an additional 8,179 shares during the period. Aspen Wealth Strategies LLC increased its stake in shares of Broadcom by 174.7% in the second quarter. Aspen Wealth Strategies LLC now owns 23,673 shares of the semiconductor manufacturer’s stock worth $6,525,000 after purchasing an additional 15,055 shares in the last quarter. Finally, RiverFront Investment Group LLC raised its holdings in Broadcom by 107.6% during the second quarter. RiverFront Investment Group LLC now owns 16,524 shares of the semiconductor manufacturer’s stock valued at $4,555,000 after acquiring an additional 8,566 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

About Broadcom

(Get Free Report)

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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