JPMorgan Chase reissued their overweight rating on shares of Broadcom (NASDAQ:AVGO) in a report published on Friday, March 16th, MarketBeat reports. The brokerage currently has a $340.00 target price on the semiconductor manufacturer’s stock.
Several other brokerages also recently commented on AVGO. Vetr downgraded Broadcom from a buy rating to a hold rating and set a $290.34 price objective on the stock. in a research note on Monday, November 27th. Canaccord Genuity reissued a buy rating and issued a $340.00 price target (up previously from $325.00) on shares of Broadcom in a research note on Friday, March 16th. Jefferies Group restated a buy rating and issued a $332.00 price objective on shares of Broadcom in a report on Friday, March 16th. SunTrust Banks decreased their price objective on Broadcom to $335.00 and set a buy rating for the company in a report on Tuesday, March 13th. They noted that the move was a valuation call. Finally, Nomura lifted their price target on Broadcom to $330.00 and gave the stock a buy rating in a report on Friday, December 8th. Five investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $313.89.
NASDAQ AVGO traded down $7.44 during trading hours on Friday, reaching $228.87. 2,879,540 shares of the company’s stock were exchanged, compared to its average volume of 5,132,258. The firm has a market cap of $97,064.80, a PE ratio of 16.00, a price-to-earnings-growth ratio of 1.07 and a beta of 0.92. Broadcom has a one year low of $208.44 and a one year high of $285.68. The company has a debt-to-equity ratio of 0.60, a current ratio of 5.70 and a quick ratio of 5.04.
Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 15th. The semiconductor manufacturer reported $5.12 EPS for the quarter, beating the Zacks’ consensus estimate of $4.41 by $0.71. The firm had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.32 billion. Broadcom had a return on equity of 29.50% and a net margin of 41.37%. The business’s quarterly revenue was up 28.5% compared to the same quarter last year. During the same period last year, the company earned $3.63 EPS. equities analysts expect that Broadcom will post 17.43 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 22nd were issued a dividend of $1.75 per share. The ex-dividend date was Wednesday, March 21st. This represents a $7.00 annualized dividend and a dividend yield of 3.06%. This is a positive change from Broadcom’s previous quarterly dividend of $0.40. Broadcom’s dividend payout ratio is currently 48.95%.
In related news, insider Kirsten M. Spears sold 199 shares of the company’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $243.88, for a total value of $48,532.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Hock E. Tan sold 20,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $247.72, for a total transaction of $4,954,400.00. The disclosure for this sale can be found here. Insiders have sold 98,675 shares of company stock worth $25,376,429 in the last quarter. Company insiders own 3.30% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BKD Wealth Advisors LLC increased its stake in Broadcom by 8.7% in the 4th quarter. BKD Wealth Advisors LLC now owns 2,399 shares of the semiconductor manufacturer’s stock valued at $616,000 after buying an additional 193 shares during the last quarter. Cetera Advisor Networks LLC increased its stake in Broadcom by 14.4% in the 3rd quarter. Cetera Advisor Networks LLC now owns 1,541 shares of the semiconductor manufacturer’s stock valued at $373,000 after buying an additional 194 shares during the last quarter. HM Payson & Co. increased its stake in Broadcom by 6.5% in the 4th quarter. HM Payson & Co. now owns 3,273 shares of the semiconductor manufacturer’s stock valued at $841,000 after buying an additional 200 shares during the last quarter. Kistler Tiffany Companies LLC increased its stake in Broadcom by 25.0% in the 4th quarter. Kistler Tiffany Companies LLC now owns 1,040 shares of the semiconductor manufacturer’s stock valued at $267,000 after buying an additional 208 shares during the last quarter. Finally, M&R Capital Management Inc. increased its stake in Broadcom by 0.7% in the 4th quarter. M&R Capital Management Inc. now owns 31,590 shares of the semiconductor manufacturer’s stock valued at $8,112,000 after buying an additional 210 shares during the last quarter. Institutional investors own 89.47% of the company’s stock.
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Broadcom Company Profile
Broadcom Limited 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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