Broadcom Inc. (NASDAQ:AVGO) Receives $225.04 Average Price Target from Brokerages

Shares of Broadcom Inc. (NASDAQ:AVGO) have been assigned an average recommendation of “Moderate Buy” from the twenty-six analysts that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $225.04.

AVGO has been the subject of several recent analyst reports. Robert W. Baird upped their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Piper Sandler upped their target price on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Evercore ISI upped their target price on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Morgan Stanley reduced their target price on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th.

Broadcom Stock Performance

Shares of AVGO stock opened at $235.04 on Thursday. The firm has a market capitalization of $1.10 trillion, a PE ratio of 191.71, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. The firm has a fifty day simple moving average of $219.76 and a two-hundred day simple moving average of $184.56. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom has a 12 month low of $119.76 and a 12 month high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom’s quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.98 EPS. Analysts forecast that Broadcom will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.00%. Broadcom’s dividend payout ratio is 192.50%.

Insider Buying and Selling at Broadcom

In other news, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the sale, the director now directly owns 6,460 shares of the company’s stock, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 over the last three months. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Broadcom

A number of institutional investors and hedge funds have recently modified their holdings of the company. Canton Hathaway LLC bought a new position in shares of Broadcom in the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom in the fourth quarter worth approximately $26,000. Bellevue Asset Management LLC bought a new position in shares of Broadcom in the fourth quarter worth approximately $33,000. Castleview Partners LLC increased its position in shares of Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. increased its position in shares of Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

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.