Jefferies Financial Group Issues Positive Forecast for Broadcom (NASDAQ:AVGO) Stock Price

Broadcom (NASDAQ:AVGO) had its price target upped by Jefferies Financial Group from $205.00 to $225.00 in a research report report published on Friday,Benzinga reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

A number of other brokerages have also commented on AVGO. Susquehanna increased their price target on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday. UBS Group increased their target price on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. boosted their price target on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Robert W. Baird increased their price objective on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Mizuho lifted their price objective on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.33.

Broadcom Trading Up 24.4 %

AVGO stock opened at $224.80 on Friday. Broadcom has a 1-year low of $104.15 and a 1-year high of $228.70. The business has a 50 day simple moving average of $174.61 and a two-hundred day simple moving average of $164.45. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The company has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 182.76, a PEG ratio of 2.15 and a beta of 1.13.

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

Broadcom Increases Dividend

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

Insider Activity at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the transaction, the director now directly owns 34,750 shares in the company, valued at $6,064,917.50. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. NCP Inc. boosted its position in Broadcom by 615.4% during the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after acquiring an additional 400 shares in the last quarter. Family Investment Center Inc. bought a new position in Broadcom in the second quarter worth about $316,000. Sarasin & Partners LLP lifted its position in shares of Broadcom by 3.6% during the second quarter. Sarasin & Partners LLP now owns 177,453 shares of the semiconductor manufacturer’s stock valued at $284,906,000 after buying an additional 6,140 shares during the last quarter. Chapin Davis Inc. boosted its holdings in shares of Broadcom by 14.2% in the 2nd quarter. Chapin Davis Inc. now owns 4,773 shares of the semiconductor manufacturer’s stock valued at $7,664,000 after buying an additional 595 shares in the last quarter. Finally, Johnson & White Wealth Management LLC grew its position in shares of Broadcom by 12.4% in the 2nd quarter. Johnson & White Wealth Management LLC now owns 1,776 shares of the semiconductor manufacturer’s stock worth $2,852,000 after buying an additional 196 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

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.