A number of other equities research analysts have also recently commented on AVGO. B. Riley reaffirmed a buy rating and set a $305.00 price objective on shares of Broadcom in a research note on Saturday, August 26th. Vetr raised Broadcom from a hold rating to a buy rating and set a $258.25 price objective for the company in a research note on Monday, August 14th. Mizuho lifted their price objective on Broadcom from $290.00 to $310.00 and gave the stock a buy rating in a research note on Thursday. BidaskClub cut Broadcom from a strong-buy rating to a buy rating in a research note on Friday, August 11th. Finally, Canaccord Genuity lifted their price objective on Broadcom from $300.00 to $313.00 and gave the stock a buy rating in a research note on Wednesday, November 29th. Five analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Broadcom currently has a consensus rating of Buy and a consensus target price of $300.62.
Shares of Broadcom (AVGO) traded down $3.98 during trading on Thursday, hitting $259.91. The company had a trading volume of 4,130,199 shares, compared to its average volume of 2,804,821. The company has a current ratio of 4.48, a quick ratio of 3.84 and a debt-to-equity ratio of 0.60. Broadcom has a twelve month low of $173.31 and a twelve month high of $285.68. The firm has a market capitalization of $107,661.69, a PE ratio of 18.33, a PEG ratio of 1.27 and a beta of 1.05.
Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, topping analysts’ consensus estimates of $4.52 by $0.07. Broadcom had a return on equity of 28.91% and a net margin of 10.18%. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.84 billion. During the same period in the previous year, the firm earned $3.47 earnings per share. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. research analysts predict that Broadcom will post 16.01 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Tuesday, December 19th will be given a dividend of $1.75 per share. This is a boost from Broadcom’s previous quarterly dividend of $1.02. This represents a $7.00 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Monday, December 18th. Broadcom’s dividend payout ratio is currently 95.77%.
In other news, SVP Bryan Ingram sold 30,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $244.01, for a total transaction of $7,320,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Charlie B. Kawwas sold 1,788 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $247.28, for a total value of $442,136.64. The disclosure for this sale can be found here. Insiders have sold 105,177 shares of company stock valued at $26,154,512 over the last ninety days. 3.60% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of AVGO. Spectrum Management Group Inc. raised its holdings in Broadcom by 0.4% during the second quarter. Spectrum Management Group Inc. now owns 2,365 shares of the semiconductor manufacturer’s stock worth $551,000 after acquiring an additional 10 shares in the last quarter. Peapack Gladstone Financial Corp raised its holdings in Broadcom by 0.5% during the second quarter. Peapack Gladstone Financial Corp now owns 2,158 shares of the semiconductor manufacturer’s stock worth $503,000 after acquiring an additional 10 shares in the last quarter. CWA Asset Management Group LLC raised its holdings in Broadcom by 0.9% during the second quarter. CWA Asset Management Group LLC now owns 1,917 shares of the semiconductor manufacturer’s stock worth $447,000 after acquiring an additional 17 shares in the last quarter. Vestor Capital LLC raised its holdings in Broadcom by 0.3% during the second quarter. Vestor Capital LLC now owns 15,051 shares of the semiconductor manufacturer’s stock worth $3,508,000 after acquiring an additional 49 shares in the last quarter. Finally, TRUE Private Wealth Advisors raised its holdings in Broadcom by 5.1% during the second quarter. TRUE Private Wealth Advisors now owns 1,426 shares of the semiconductor manufacturer’s stock worth $332,000 after acquiring an additional 69 shares in the last quarter. 88.99% of the stock is owned by institutional investors.
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Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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