Broadcom (NASDAQ:AVGO) Price Target Raised to $225.00 at Susquehanna

Broadcom (NASDAQ:AVGO) had its price objective increased by Susquehanna from $200.00 to $225.00 in a report issued on Friday,Benzinga reports. The firm currently has a positive rating on the semiconductor manufacturer’s stock.

Several other brokerages also recently weighed in on AVGO. UBS Group increased their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Mizuho raised their target price on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Piper Sandler upped their price target on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday. Finally, William Blair began coverage on Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $220.33.

Broadcom Trading Up 24.4 %

NASDAQ:AVGO opened at $224.80 on Friday. The company has a market capitalization of $1.05 trillion, a P/E ratio of 182.76, a PEG ratio of 2.15 and a beta of 1.13. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom has a 12 month low of $104.15 and a 12 month high of $228.70. The firm has a fifty day simple moving average of $174.61 and a 200-day simple moving average of $164.45.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm’s revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 EPS. On average, equities research analysts anticipate that Broadcom will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.05%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 172.36%.

Insider Buying and Selling

In other Broadcom news, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the sale, the director now owns 34,750 shares of the company’s stock, valued at $6,064,917.50. The trade was a 2.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the sale, the insider now owns 737,330 shares of the company’s stock, valued at $133,781,155.20. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 in the last 90 days. Insiders own 2.00% of the company’s stock.

Institutional Trading of Broadcom

Large investors have recently bought and sold shares of the business. Lord Abbett & CO. LLC lifted its position in Broadcom by 762.8% during the third quarter. Lord Abbett & CO. LLC now owns 2,181,786 shares of the semiconductor manufacturer’s stock worth $376,358,000 after buying an additional 1,928,907 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of Broadcom by 624.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 138,687 shares of the semiconductor manufacturer’s stock worth $23,889,000 after acquiring an additional 119,553 shares during the last quarter. Legacy Wealth Management LLC MS raised its holdings in shares of Broadcom by 1,021.0% during the 3rd quarter. Legacy Wealth Management LLC MS now owns 9,573 shares of the semiconductor manufacturer’s stock worth $1,651,000 after acquiring an additional 8,719 shares during the period. 1ST Source Bank boosted its position in shares of Broadcom by 869.0% during the 3rd quarter. 1ST Source Bank now owns 32,489 shares of the semiconductor manufacturer’s stock valued at $5,604,000 after acquiring an additional 29,136 shares during the last quarter. Finally, Alternative Investment Advisors LLC. grew its holdings in shares of Broadcom by 376.4% in the third quarter. Alternative Investment Advisors LLC. now owns 9,367 shares of the semiconductor manufacturer’s stock valued at $1,616,000 after purchasing an additional 7,401 shares during the period. 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.