Brokerages Set Broadcom Inc (NASDAQ:AVGO) PT at $313.29

Shares of Broadcom Inc (NASDAQ:AVGO) have received an average rating of “Buy” from the thirty-seven ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-eight have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $313.29.

Several equities research analysts recently weighed in on AVGO shares. BMO Capital Markets raised shares of Broadcom from a “market perform” rating to an “outperform” rating and set a $330.00 target price on the stock in a research note on Monday, March 16th. Zacks Investment Research cut shares of Broadcom from a “hold” rating to a “sell” rating and set a $211.00 target price for the company. in a report on Wednesday, March 18th. Robert W. Baird lowered their target price on shares of Broadcom from $400.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, March 13th. SunTrust Banks lowered their target price on shares of Broadcom from $366.00 to $300.00 and set a “buy” rating for the company in a report on Friday, March 13th. They noted that the move was a valuation call. Finally, Oppenheimer upped their target price on shares of Broadcom from $315.00 to $350.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th.

In other news, CEO Hock E. Tan sold 73,646 shares of Broadcom stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $198.18, for a total transaction of $14,595,164.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 420,938 shares of company stock worth $121,050,177 over the last three months. Corporate insiders own 3.00% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Executive Wealth Management LLC boosted its holdings in shares of Broadcom by 408.7% during the third quarter. Executive Wealth Management LLC now owns 234 shares of the semiconductor manufacturer’s stock valued at $64,000 after acquiring an additional 188 shares during the period. SWS Partners raised its stake in Broadcom by 6.9% during the third quarter. SWS Partners now owns 2,975 shares of the semiconductor manufacturer’s stock worth $927,000 after acquiring an additional 191 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in Broadcom by 0.6% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 334,330 shares of the semiconductor manufacturer’s stock worth $92,299,000 after acquiring an additional 2,096 shares in the last quarter. Vestor Capital LLC acquired a new position in Broadcom during the third quarter worth $2,598,000. Finally, RDA Financial Network raised its stake in Broadcom by 3.0% during the third quarter. RDA Financial Network now owns 3,662 shares of the semiconductor manufacturer’s stock worth $1,163,000 after acquiring an additional 105 shares in the last quarter. Institutional investors and hedge funds own 83.02% of the company’s stock.

AVGO traded up $4.79 on Friday, reaching $217.55. The stock had a trading volume of 6,438,761 shares, compared to its average volume of 3,513,159. Broadcom has a 12-month low of $155.67 and a 12-month high of $331.58. The company has a current ratio of 1.56, a quick ratio of 1.44 and a debt-to-equity ratio of 1.58. The business’s 50-day moving average price is $271.75 and its two-hundred day moving average price is $294.91. The company has a market cap of $77.35 billion, a P/E ratio of 35.90, a price-to-earnings-growth ratio of 1.03 and a beta of 0.87.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 12th. The semiconductor manufacturer reported $5.25 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.08). Broadcom had a net margin of 11.64% and a return on equity of 69.53%. The firm had revenue of $5.86 billion during the quarter, compared to analyst estimates of $5.99 billion. During the same quarter in the previous year, the firm earned $5.55 earnings per share. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, analysts predict that Broadcom will post 18.07 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be given a $3.25 dividend. The ex-dividend date is Friday, March 20th. This represents a $13.00 annualized dividend and a dividend yield of 5.98%. Broadcom’s dividend payout ratio is presently 74.67%.

About Broadcom

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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