A number of other research firms also recently commented on AVGO. Vetr raised shares of Broadcom from a hold rating to a buy rating and set a $261.95 target price for the company in a research report on Monday, August 28th. Royal Bank of Canada reaffirmed a buy rating and issued a $285.00 target price (up previously from $270.00) on shares of Broadcom in a research report on Saturday, August 26th. B. Riley reaffirmed a buy rating and issued a $305.00 target price on shares of Broadcom in a research report on Thursday, August 31st. Nomura lifted their target price on shares of Broadcom to $330.00 and gave the stock a buy rating in a research report on Friday, December 8th. Finally, Mizuho lifted their target price on shares of Broadcom from $290.00 to $310.00 and gave the stock a buy rating in a research report on Thursday, December 7th. Four equities research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $303.13.
Shares of Broadcom (AVGO) traded up $6.39 on Friday, hitting $265.73. 4,278,507 shares of the company traded hands, compared to its average volume of 3,338,615. The company has a market capitalization of $105,805.38, a P/E ratio of 18.01, a P/E/G ratio of 1.11 and a beta of 1.05. The company has a quick ratio of 5.80, a current ratio of 6.39 and a debt-to-equity ratio of 0.75. Broadcom has a 12 month low of $173.31 and a 12 month high of $285.68.
Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.52 by $0.07. Broadcom had a net margin of 10.18% and a return on equity of 28.61%. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.84 billion. During the same quarter last 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. equities analysts predict that Broadcom will post 16.99 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Tuesday, December 19th will be issued a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 2.63%. This is an increase from Broadcom’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Monday, December 18th. Broadcom’s dividend payout ratio is presently 95.77%.
In related news, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $247.83, for a total transaction of $4,956,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Bryan Ingram sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $240.62, for a total transaction of $2,406,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 53,389 shares of company stock worth $13,462,476 over the last quarter. 3.60% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Quantitative Systematic Strategies LLC boosted its position in Broadcom by 348.3% in the 3rd quarter. Quantitative Systematic Strategies LLC now owns 4,335 shares of the semiconductor manufacturer’s stock valued at $1,051,000 after buying an additional 3,368 shares during the period. Alps Advisors Inc. purchased a new stake in Broadcom in the 2nd quarter valued at about $221,000. Osborne Partners Capital Management LLC boosted its position in Broadcom by 5.5% in the 3rd quarter. Osborne Partners Capital Management LLC now owns 9,531 shares of the semiconductor manufacturer’s stock valued at $2,312,000 after buying an additional 499 shares during the period. Principal Financial Group Inc. boosted its position in Broadcom by 14.4% in the 2nd quarter. Principal Financial Group Inc. now owns 667,057 shares of the semiconductor manufacturer’s stock valued at $155,459,000 after buying an additional 83,929 shares during the period. Finally, DSAM Partners London Ltd boosted its position in Broadcom by 103.4% in the 2nd quarter. DSAM Partners London Ltd now owns 184,714 shares of the semiconductor manufacturer’s stock valued at $43,048,000 after buying an additional 93,890 shares during the period. 88.98% of the stock is owned by institutional investors.
Broadcom Company Profile
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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