Shares of Broadcom Inc. (NASDAQ:AVGO – Get Free Report) have been given an average rating of “Moderate Buy” by the twenty-seven research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $240.08.
A number of analysts recently commented on the company. Bank of America reiterated a “buy” rating and set a $215.00 price objective (up previously from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Sanford C. Bernstein lifted their price objective on Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Barclays lifted their price objective on Broadcom from $150.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. Citigroup restated a “buy” rating and issued a $156.00 price target on shares of Broadcom in a report on Tuesday, June 11th. Finally, JPMorgan Chase & Co. lifted their price target on Broadcom from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, June 13th.
View Our Latest Analysis on Broadcom
Insiders Place Their Bets
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of AVGO. Stuart Chaussee & Associates Inc. bought a new position in Broadcom during the fourth quarter valued at about $25,000. Legend Financial Advisors Inc. boosted its position in shares of Broadcom by 72.7% in the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 8 shares during the period. 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. Richardson Capital Management LLC acquired a new position in shares of Broadcom in the 1st quarter valued at $29,000. Finally, Delta Asset Management LLC TN boosted its position in shares of Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 17 shares during the period. Institutional investors own 76.43% of the company’s stock.
Broadcom Trading Up 1.2 %
Shares of AVGO stock opened at $167.71 on Thursday. Broadcom has a fifty-two week low of $79.51 and a fifty-two week high of $185.16. The stock has a market cap of $780.67 billion, a P/E ratio of 7.21, a P/E/G ratio of 2.59 and a beta of 1.17. The business has a fifty day simple moving average of $191.41 and a 200-day simple moving average of $152.81. The company has a quick ratio of 1.16, a current ratio of 1.25 and a debt-to-equity ratio of 1.02.
Broadcom (NASDAQ:AVGO – Get Free Report) last posted its quarterly earnings data on Wednesday, June 12th. The semiconductor manufacturer reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. The firm had revenue of $12.49 billion during the quarter, compared to analysts’ expectations of $12.06 billion. Broadcom had a return on equity of 35.82% and a net margin of 24.10%. The firm’s quarterly revenue was up 43.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 EPS. On average, analysts forecast that Broadcom will post 3.74 earnings per share for the current fiscal year.
Broadcom Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 24th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 1.25%. The ex-dividend date was Monday, June 24th. Broadcom’s dividend payout ratio is presently 9.03%.
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.
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