Broadcom (NASDAQ:AVGO) Price Target Raised to $1,500.00 at Barclays

Broadcom (NASDAQ:AVGO) had its price target hoisted by Barclays from $1,405.00 to $1,500.00 in a report issued on Wednesday, Marketbeat.com reports. They currently have an overweight rating on the semiconductor manufacturer’s stock.

Several other brokerages have also recently issued reports on AVGO. Evercore ISI assumed coverage on Broadcom in a report on Tuesday. They set an outperform rating and a $1,620.00 price objective on the stock. JPMorgan Chase & Co. reaffirmed an overweight rating and set a $1,700.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Mizuho upped their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the stock a buy rating in a report on Thursday, March 7th. The Goldman Sachs Group reissued a buy rating and set a $1,325.00 target price on shares of Broadcom in a research report on Friday, January 19th. Finally, Benchmark reaffirmed a buy rating and issued a $1,720.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $1,285.41.

Broadcom Stock Down 3.5 %

NASDAQ AVGO opened at $1,282.63 on Wednesday. The stock’s 50 day moving average is $1,307.00 and its 200 day moving average is $1,115.19. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. Broadcom has a 12 month low of $601.29 and a 12 month high of $1,438.17. The stock has a market cap of $594.40 billion, a PE ratio of 47.54, a P/E/G ratio of 2.67 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm’s revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.83 EPS. Research analysts predict that Broadcom will post 35.95 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the completion of the sale, the insider now directly owns 46,974 shares in the company, valued at $61,957,296.78. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the completion of the transaction, the insider now directly owns 46,974 shares in the company, valued at $61,957,296.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AVGO. Norges Bank acquired a new stake in Broadcom during the fourth quarter worth about $6,225,987,000. Moneta Group Investment Advisors LLC grew its holdings in Broadcom by 122,794.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,667,161 shares of the semiconductor manufacturer’s stock worth $2,050,420,000 after acquiring an additional 3,664,177 shares during the period. International Assets Investment Management LLC grew its holdings in Broadcom by 113,495.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock worth $37,140,060,000 after acquiring an additional 3,324,288 shares during the period. Vanguard Group Inc. grew its holdings in Broadcom by 7.7% during the fourth quarter. Vanguard Group Inc. now owns 43,347,811 shares of the semiconductor manufacturer’s stock worth $48,386,994,000 after acquiring an additional 3,089,798 shares during the period. Finally, Providence Capital Advisors LLC grew its holdings in Broadcom by 49,919.1% during the first quarter. Providence Capital Advisors LLC now owns 2,437,432 shares of the semiconductor manufacturer’s stock worth $3,799,000 after acquiring an additional 2,432,559 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

About Broadcom

Broadcom Inc designs, develops, and supplies various 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 in two segments, Semiconductor Solutions and Infrastructure Software.