Shares of Broadcom Inc (NASDAQ:AVGO) have been assigned an average rating of “Buy” from the thirty-seven research firms that are presently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $304.45.
Several research firms have issued reports on AVGO. Robert W. Baird set a $5.00 price objective on shares of Ashford Hospitality Trust and gave the stock a “hold” rating in a research note on Monday, June 17th. KeyCorp boosted their price objective on shares of Alteryx from $100.00 to $123.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. ValuEngine upgraded shares of Vale from a “sell” rating to a “hold” rating in a research note on Tuesday, July 16th. Jefferies Financial Group set a €110.00 ($127.91) price objective on shares of Airbus and gave the stock a “buy” rating in a research note on Friday, June 14th. Finally, Mizuho downgraded shares of Advantest from a “neutral” rating to an “underperform” rating in a research note on Friday, June 14th.
Broadcom stock traded up $0.22 during trading on Tuesday, reaching $290.00. The company had a trading volume of 2,204,683 shares, compared to its average volume of 2,685,776. Broadcom has a 12-month low of $202.77 and a 12-month high of $323.20. The business’s 50 day moving average price is $277.44. The stock has a market capitalization of $115.44 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 1.40 and a beta of 0.94. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 1.53.
Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.18 by $0.03. Broadcom had a net margin of 15.92% and a return on equity of 32.81%. The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the firm earned $4.88 earnings per share. Broadcom’s revenue was up 10.0% compared to the same quarter last year. Equities analysts expect that Broadcom will post 17.43 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Monday, June 24th were given a dividend of $2.65 per share. The ex-dividend date of this dividend was Friday, June 21st. This represents a $10.60 dividend on an annualized basis and a dividend yield of 3.66%. Broadcom’s payout ratio is currently 56.29%.
In related news, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $292.16, for a total value of $5,843,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Bryan Ingram sold 11,922 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $278.58, for a total transaction of $3,321,230.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,388 shares of company stock worth $18,198,482. Corporate insiders own 3.30% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Pinnacle Bank raised its holdings in Broadcom by 128.2% in the second quarter. Pinnacle Bank now owns 89 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 50 shares in the last quarter. First Financial Corp IN acquired a new stake in Broadcom in the first quarter valued at $30,000. Daiwa SB Investments Ltd. acquired a new stake in Broadcom in the first quarter valued at $30,000. CX Institutional raised its holdings in Broadcom by 555.6% in the first quarter. CX Institutional now owns 118 shares of the semiconductor manufacturer’s stock valued at $35,000 after acquiring an additional 100 shares in the last quarter. Finally, Destination Wealth Management acquired a new stake in shares of Broadcom during the first quarter worth $41,000. 83.93% of the stock is currently owned by hedge funds and other institutional investors.
Broadcom Company Profile
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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