Several other equities analysts have also weighed in on AVGO. BMO Capital Markets increased their price target on shares of Broadcom from $310.00 to $330.00 and gave the company a market perform rating in a research report on Friday, December 13th. Craig Hallum reaffirmed a buy rating and issued a $385.00 price objective (up previously from $330.00) on shares of Broadcom in a research report on Friday, December 13th. Cascend Securities boosted their target price on shares of Broadcom from $330.00 to $350.00 and gave the company a buy rating in a research note on Friday, November 22nd. Raymond James reiterated a hold rating on shares of Broadcom in a research note on Thursday, December 12th. Finally, ValuEngine downgraded shares of Broadcom from a hold rating to a sell rating in a research report on Saturday, January 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $331.77.
Shares of Broadcom stock traded up $1.74 on Friday, hitting $308.79. 2,610,473 shares of the company’s stock traded hands, compared to its average volume of 2,130,897. The company has a fifty day moving average of $314.42 and a two-hundred day moving average of $295.26. Broadcom has a one year low of $250.09 and a one year high of $331.20. The company has a market capitalization of $122.14 billion, a price-to-earnings ratio of 47.95, a price-to-earnings-growth ratio of 1.49 and a beta of 0.90. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.44 and a quick ratio of 1.31.
Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $5.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $5.35 by $0.04. Broadcom had a return on equity of 46.16% and a net margin of 12.06%. The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.74 billion. During the same period in the previous year, the firm earned $5.85 earnings per share. The company’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts anticipate that Broadcom will post 19.22 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $3.25 per share. This represents a $13.00 annualized dividend and a dividend yield of 4.21%. The ex-dividend date was Friday, December 20th. This is an increase from Broadcom’s previous quarterly dividend of $2.65. Broadcom’s dividend payout ratio is 74.67%.
In other Broadcom news, CEO Hock E. Tan sold 73,646 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $303.36, for a total value of $22,341,250.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.56, for a total transaction of $6,291,200.00. In the last 90 days, insiders have sold 188,646 shares of company stock valued at $58,355,351. Insiders own 3.30% of the company’s stock.
Several large investors have recently bought and sold shares of AVGO. Marquette Asset Management LLC acquired a new position in shares of Broadcom in the 3rd quarter valued at $28,000. Garrett Wealth Advisory Group LLC purchased a new position in shares of Broadcom in the 3rd quarter valued at about $28,000. Ellis Investment Partners LLC grew its position in shares of Broadcom by 55.7% during the third quarter. Ellis Investment Partners LLC now owns 123 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 44 shares in the last quarter. Doyle Wealth Management acquired a new position in shares of Broadcom during the second quarter worth about $42,000. Finally, Manchester Financial Inc. purchased a new stake in shares of Broadcom during the fourth quarter worth approximately $68,000. 83.13% of the stock is owned by hedge funds and other institutional investors.
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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