Drexel Hamilton reaffirmed their buy rating on shares of Broadcom (NASDAQ:AVGO) in a report issued on Friday, March 16th, MarketBeat Ratings reports. Drexel Hamilton currently has a $313.00 price objective on the semiconductor manufacturer’s stock, up from their previous price objective of $302.00.
Other equities research analysts also recently issued reports about the stock. B. Riley reiterated a buy rating and issued a $315.00 price target on shares of Broadcom in a research report on Monday, November 20th. Canaccord Genuity boosted their price objective on shares of Broadcom from $300.00 to $313.00 and gave the company a buy rating in a research report on Wednesday, November 29th. Raymond James Financial restated a buy rating and set a $335.00 price objective on shares of Broadcom in a research report on Monday, December 4th. Oppenheimer reiterated a buy rating and set a $300.00 price target (up from $275.00) on shares of Broadcom in a report on Monday, December 4th. Finally, Mizuho upped their price target on shares of Broadcom from $290.00 to $310.00 and gave the stock a buy rating in a report on Thursday, December 7th. Five equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $313.89.
Shares of NASDAQ:AVGO opened at $228.87 on Friday. Broadcom has a 12-month low of $208.44 and a 12-month high of $285.68. The company has a market cap of $97,064.80, a PE ratio of 16.00, a PEG ratio of 1.07 and a beta of 0.92. 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 issued its quarterly earnings data on Thursday, March 15th. The semiconductor manufacturer reported $5.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.41 by $0.71. Broadcom had a return on equity of 29.50% and a net margin of 41.37%. The company had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the previous year, the company posted $3.63 earnings per share. The business’s revenue was up 28.5% on a year-over-year basis. sell-side analysts predict that Broadcom will post 17.43 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 22nd were paid a $1.75 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, March 21st. This represents a $7.00 annualized dividend and a yield of 3.06%. Broadcom’s dividend payout ratio (DPR) is 48.95%.
In other news, CEO Hock E. Tan sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $247.72, for a total transaction of $4,954,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Charlie B. Kawwas sold 997 shares of the stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $243.88, for a total transaction of $243,148.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,675 shares of company stock valued at $25,376,429. Company insiders own 3.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC bought a new position in Broadcom in the 4th quarter worth approximately $124,000. We Are One Seven LLC bought a new position in Broadcom in the 4th quarter worth approximately $142,000. FNY Partners Fund LP bought a new position in Broadcom in the 4th quarter worth approximately $154,000. Independence Bank of Kentucky bought a new position in Broadcom in the 4th quarter worth approximately $188,000. Finally, Premia Global Advisors LLC bought a new position in Broadcom in the 4th quarter worth approximately $198,000. 89.47% of the stock is owned by hedge funds and other institutional investors.
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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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