Broadcom’s (AVGO) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Broadcom (NASDAQ:AVGO) in a research report released on Friday,Benzinga reports. The brokerage currently has a $300.00 price objective on the semiconductor manufacturer’s stock. Cantor Fitzgerald also issued estimates for Broadcom’s FY2025 earnings at $5.65 EPS.

Several other equities analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Robert W. Baird increased their price objective on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research report on Friday. KeyCorp increased their price objective on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, TD Cowen increased their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Trading Up 8.6 %

Shares of NASDAQ AVGO opened at $194.96 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom has a 52-week low of $119.76 and a 52-week high of $251.88. The firm has a 50 day moving average price of $222.28 and a two-hundred day moving average price of $193.12. The stock has a market cap of $913.85 billion, a P/E ratio of 159.02, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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 EPS. The company’s revenue was up 51.2% on a year-over-year basis. As a group, equities analysts forecast that Broadcom will post 5.38 EPS for the current year.

Broadcom Announces Dividend

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

Insider Activity at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Broadcom

Several large investors have recently modified their holdings of the business. Copia Wealth Management purchased a new position in shares of Broadcom in the fourth quarter worth about $194,000. IronOak Wealth LLC. purchased a new position in shares of Broadcom in the fourth quarter worth about $3,035,000. Elite Financial Inc. purchased a new position in shares of Broadcom in the fourth quarter worth about $231,000. TFR Capital LLC. purchased a new position in shares of Broadcom in the fourth quarter worth about $2,217,000. Finally, Smith Shellnut Wilson LLC ADV increased its stake in shares of Broadcom by 4.2% in the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 4,585 shares of the semiconductor manufacturer’s stock worth $1,063,000 after purchasing an additional 183 shares in the last quarter. Hedge funds and other institutional investors 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.