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

Shares of Broadcom Inc. (NASDAQ:AVGO) 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.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 2,540 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $175.03, for a total value of $444,566.04. Following the sale, the director now directly owns 27,480 shares of the company’s stock, valued at $4,809,714.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Hock E. Tan sold 7,502 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the transaction, the chief executive officer now owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Justine Page sold 2,540 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $175.03, for a total value of $444,566.04. Following the completion of the transaction, the director now directly owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

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) 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.