Broadcom Inc. (NASDAQ:AVGO) Receives $220.54 Average PT from Analysts

Shares of Broadcom Inc. (NASDAQ:AVGO) have received an average recommendation of “Moderate Buy” from the twenty-six analysts that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and twenty-four have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $221.88.

A number of research analysts have commented on AVGO shares. UBS Group upped their target price on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Mizuho lifted their target price on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Citigroup upped their price target on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Robert W. Baird lifted their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th.

Broadcom Price Performance

Broadcom stock opened at $220.79 on Wednesday. The company has a 50-day moving average price of $179.49 and a 200 day moving average price of $167.66. Broadcom has a 12-month low of $104.15 and a 12-month high of $251.88. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock has a market cap of $1.03 trillion, a P/E ratio of 191.82, a PEG ratio of 2.15 and a beta of 1.13.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. Sell-side analysts anticipate that Broadcom will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be paid a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 150,000 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the sale, the chief executive officer now owns 1,181,910 shares in the company, valued at $204,399,515.40. This represents a 11.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction on Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the transaction, the insider now owns 399,460 shares in the company, valued at approximately $70,744,366. This represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 242,420 shares of company stock worth $42,701,286 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

Several hedge funds have recently made changes to their positions in AVGO. NCP Inc. lifted its holdings in shares of Broadcom by 615.4% during the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after purchasing an additional 400 shares during the period. Courier Capital LLC lifted its stake in shares of Broadcom by 18.9% in the 2nd quarter. Courier Capital LLC now owns 680 shares of the semiconductor manufacturer’s stock worth $1,092,000 after acquiring an additional 108 shares during the period. Harbour Trust & Investment Management Co acquired a new stake in shares of Broadcom in the 2nd quarter worth $225,000. Proffitt & Goodson Inc. boosted its holdings in shares of Broadcom by 30,000.0% in the second quarter. Proffitt & Goodson Inc. now owns 602 shares of the semiconductor manufacturer’s stock valued at $967,000 after acquiring an additional 600 shares in the last quarter. Finally, Oak Family Advisors LLC acquired a new position in shares of Broadcom during the second quarter worth about $576,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

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.