Sanford C. Bernstein set a $325.00 price target on Broadcom (NASDAQ:AVGO) in a research note published on Thursday. The firm currently has a buy rating on the semiconductor manufacturer’s stock.
Other analysts have also recently issued reports about the stock. B. Riley reaffirmed a buy rating and issued a $305.00 price target on shares of Broadcom in a report on Saturday, August 26th. Vetr raised shares of Broadcom from a hold rating to a buy rating and set a $258.25 price target on the stock in a report on Monday, August 14th. Mizuho upped their price target on shares of Broadcom from $290.00 to $310.00 and gave the company a buy rating in a report on Thursday. BidaskClub cut shares of Broadcom from a strong-buy rating to a buy rating in a report on Friday, August 11th. Finally, Loop Capital reaffirmed a buy rating and issued a $330.00 price target on shares of Broadcom in a report on Thursday. Five analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company. Broadcom has a consensus rating of Buy and an average price target of $303.13.
Broadcom (NASDAQ AVGO) traded up $0.23 on Thursday, reaching $260.14. 735,475 shares of the company’s stock traded hands, compared to its average volume of 2,805,057. The company has a current ratio of 6.39, a quick ratio of 5.80 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. The stock has a market capitalization of $106,037.93, a P/E ratio of 18.05, a P/E/G ratio of 1.18 and a beta of 1.05.
Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share (EPS) for the quarter, topping the 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 period in the previous year, the firm earned $3.47 earnings per share. Broadcom’s revenue for the quarter was up 17.1% on a year-over-year basis. equities research analysts anticipate that Broadcom will post 16.04 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Tuesday, December 19th will be given a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Monday, December 18th. This is a positive change from Broadcom’s previous quarterly dividend of $1.02. Broadcom’s dividend payout ratio (DPR) is presently 95.77%.
In other Broadcom news, insider Hock E. Tan sold 20,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $246.48, for a total transaction of $4,929,600.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Thomas H. Krause sold 2,595 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $267.34, for a total value of $693,747.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 103,389 shares of company stock worth $25,712,376. Insiders own 3.60% of the company’s stock.
A number of hedge funds have recently made changes to their positions in AVGO. Mountain Capital Investment Advisors Inc bought a new position in Broadcom in the second quarter worth $113,000. AllSquare Wealth Management LLC bought a new position in shares of Broadcom during the third quarter valued at $113,000. Shine Investment Advisory Services Inc. bought a new position in shares of Broadcom during the second quarter valued at $116,000. Tower Research Capital LLC TRC lifted its holdings in shares of Broadcom by 473.0% during the second quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock valued at $134,000 after acquiring an additional 473 shares during the period. Finally, Catamount Wealth Management bought a new position in shares of Broadcom during the second quarter valued at $140,000. Institutional investors own 88.98% of the company’s stock.
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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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