Broadcom Inc (NASDAQ:AVGO) – Research analysts at SunTrust Banks lifted their Q1 2019 earnings per share estimates for Broadcom in a research note issued on Tuesday, December 4th. SunTrust Banks analyst W. Stein now anticipates that the semiconductor manufacturer will post earnings per share of $4.84 for the quarter, up from their previous estimate of $4.72. SunTrust Banks also issued estimates for Broadcom’s Q2 2019 earnings at $4.83 EPS, Q3 2019 earnings at $5.13 EPS, FY2019 earnings at $20.56 EPS and Q1 2020 earnings at $5.42 EPS.
A number of other brokerages have also weighed in on AVGO. Mizuho reissued a “buy” rating on shares of Broadcom in a research report on Friday, October 5th. Piper Jaffray Companies set a $293.00 price target on Broadcom and gave the company a “buy” rating in a research note on Tuesday, September 25th. Deutsche Bank cut their price target on Broadcom from $310.00 to $300.00 and set a “buy” rating for the company in a research note on Monday. BidaskClub upgraded Broadcom from a “hold” rating to a “buy” rating in a research note on Friday, September 21st. Finally, ValuEngine upgraded Broadcom from a “sell” rating to a “hold” rating in a research note on Saturday, November 10th. Nine research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company. Broadcom presently has a consensus rating of “Buy” and an average target price of $287.24.
AVGO opened at $232.04 on Wednesday. Broadcom has a 1 year low of $197.46 and a 1 year high of $275.70. The company has a quick ratio of 3.42, a current ratio of 3.98 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $98.16 billion, a PE ratio of 16.23, a P/E/G ratio of 1.04 and a beta of 1.03.
Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 6th. The semiconductor manufacturer reported $4.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.82 by $0.16. The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.06 billion. Broadcom had a return on equity of 28.54% and a net margin of 58.18%. Broadcom’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.10 EPS.
In other Broadcom news, insider Kirsten M. Spears sold 1,194 shares of the stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $246.52, for a total value of $294,344.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hock E. Tan sold 20,000 shares of the stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $238.62, for a total value of $4,772,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,194 shares of company stock valued at $14,266,145. 3.30% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Great Lakes Advisors LLC raised its stake in shares of Broadcom by 7.4% in the third quarter. Great Lakes Advisors LLC now owns 3,247 shares of the semiconductor manufacturer’s stock worth $801,000 after purchasing an additional 223 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Broadcom by 6.6% in the third quarter. Vanguard Group Inc. now owns 33,632,811 shares of the semiconductor manufacturer’s stock worth $8,298,223,000 after purchasing an additional 2,094,847 shares during the last quarter. Morgan Stanley raised its stake in shares of Broadcom by 121.7% in the third quarter. Morgan Stanley now owns 4,296,700 shares of the semiconductor manufacturer’s stock worth $1,060,125,000 after purchasing an additional 2,358,329 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Broadcom by 3.1% in the third quarter. Legal & General Group Plc now owns 1,782,339 shares of the semiconductor manufacturer’s stock worth $439,756,000 after purchasing an additional 53,494 shares during the last quarter. Finally, Buckingham Capital Management Inc. raised its stake in shares of Broadcom by 111.6% in the third quarter. Buckingham Capital Management Inc. now owns 12,219 shares of the semiconductor manufacturer’s stock worth $3,015,000 after purchasing an additional 6,444 shares during the last quarter. Institutional investors own 85.22% of the company’s stock.
Broadcom Company Profile
Broadcom Inc 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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