Broadcom Inc. (NASDAQ:AVGO – Get Free Report) fell 0.8% during mid-day trading on Tuesday after Morgan Stanley lowered their price target on the stock from $265.00 to $246.00. Morgan Stanley currently has an overweight rating on the stock. Broadcom traded as low as $198.89 and last traded at $200.51. 17,358,098 shares traded hands during trading, a decline of 39% from the average session volume of 28,606,877 shares. The stock had previously closed at $202.13.
A number of other analysts also recently issued reports on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 price objective on shares of Broadcom in a report on Wednesday, December 11th. Truist Financial lifted their target price on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Piper Sandler lifted their target price on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Bank of America lifted their target price on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Mizuho lifted their target price on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.04.
View Our Latest Stock Analysis on Broadcom
Insider Buying and Selling
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in AVGO. NCP Inc. increased its stake in shares of Broadcom by 615.4% in the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after purchasing an additional 400 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Broadcom by 257.1% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,167 shares of the semiconductor manufacturer’s stock worth $19,535,000 after purchasing an additional 8,760 shares in the last quarter. New Century Financial Group LLC purchased a new stake in shares of Broadcom in the second quarter worth $376,000. RiverFront Investment Group LLC purchased a new stake in shares of Broadcom in the second quarter worth $2,778,000. Finally, Farmers National Bank increased its stake in shares of Broadcom by 3.7% in the second quarter. Farmers National Bank now owns 5,919 shares of the semiconductor manufacturer’s stock worth $9,503,000 after purchasing an additional 211 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.
Broadcom Trading Down 0.5 %
The stock’s 50 day moving average price is $210.37 and its 200-day moving average price is $181.05. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $967.24 billion, a PE ratio of 168.31, a PEG ratio of 2.52 and a beta of 1.03.
Broadcom (NASDAQ:AVGO – Get Free Report) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the prior year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.
Broadcom Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.14%. Broadcom’s dividend payout ratio is currently 192.50%.
Broadcom Company Profile
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.
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