Broadcom (NASDAQ:AVGO) Given Outperform Rating at William Blair

William Blair restated their outperform rating on shares of Broadcom (NASDAQ:AVGO) in a research note published on Friday morning,RTT News reports.

A number of other equities research analysts have also weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Broadcom in a research note on Friday. Hsbc Global Res raised Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Morgan Stanley lowered their price target on Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Susquehanna upped their price target on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Price Performance

AVGO opened at $194.96 on Friday. The stock has a 50-day moving average price of $222.28 and a 200-day moving average price of $193.12. Broadcom has a 12-month low of $119.76 and a 12-month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $913.85 billion, a P/E ratio of 159.02, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the company posted $0.98 EPS. Broadcom’s revenue for the quarter was up 51.2% on a year-over-year basis. Equities analysts predict that Broadcom will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. Broadcom’s payout ratio is currently 191.87%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Harry L. You sold 6,540 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the sale, the director now owns 6,460 shares in the company, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. Insiders own 2.00% of the company’s stock.

Institutional Trading of Broadcom

Institutional investors have recently added to or reduced their stakes in the business. Pin Oak Investment Advisors Inc. lifted its holdings in shares of Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares during the period. Canton Hathaway LLC bought a new position in shares of Broadcom during the 4th quarter valued at $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom during the 4th quarter valued at $26,000. Sunbeam Capital Management LLC bought a new position in shares of Broadcom during the 4th quarter valued at $28,000. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Broadcom during the 4th quarter valued at $30,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

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.