William Blair Weighs in on Broadcom Inc.’s FY2024 Earnings (NASDAQ:AVGO)

Broadcom Inc. (NASDAQ:AVGO) – Equities research analysts at William Blair issued their FY2024 EPS estimates for shares of Broadcom in a research note issued to investors on Wednesday, September 18th. William Blair analyst S. Naji forecasts that the semiconductor manufacturer will earn $3.80 per share for the year. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Broadcom’s current full-year earnings is $3.77 per share. William Blair also issued estimates for Broadcom’s Q4 2024 earnings at $1.15 EPS, Q1 2025 earnings at $1.32 EPS, Q2 2025 earnings at $1.39 EPS, Q3 2025 earnings at $1.45 EPS, Q4 2025 earnings at $1.52 EPS and FY2025 earnings at $5.69 EPS.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 EPS.

Several other research analysts have also commented on AVGO. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Jefferies Financial Group upped their target price on Broadcom from $155.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Citigroup reiterated a “buy” rating and set a $156.00 price target on shares of Broadcom in a research report on Tuesday, June 11th. Melius Research began coverage on Broadcom in a research report on Monday, June 3rd. They set a “buy” rating and a $185.00 price objective for the company. Finally, StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.23.

Broadcom Stock Performance

Broadcom stock opened at $171.10 on Monday. The company has a market cap of $796.45 billion, a PE ratio of 7.36, a P/E/G ratio of 2.55 and a beta of 1.16. Broadcom has a 12 month low of $79.51 and a 12 month high of $185.16. The company has a fifty day moving average price of $156.81 and a two-hundred day moving average price of $146.91. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.24%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, September 19th. Broadcom’s dividend payout ratio is presently 9.12%.

Insider Activity

In related news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 7,502 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the transaction, the chief executive officer now owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

A number of large investors have recently made changes to their positions in AVGO. Lion Street Advisors LLC lifted its holdings in shares of Broadcom by 1.9% in the second quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock valued at $520,000 after purchasing an additional 6 shares in the last quarter. Tucker Asset Management LLC lifted its stake in Broadcom by 12.5% in the 4th quarter. Tucker Asset Management LLC now owns 72 shares of the semiconductor manufacturer’s stock worth $80,000 after acquiring an additional 8 shares in the last quarter. Buckley Wealth Management LLC boosted its position in Broadcom by 0.7% during the 1st quarter. Buckley Wealth Management LLC now owns 1,153 shares of the semiconductor manufacturer’s stock worth $1,529,000 after acquiring an additional 8 shares during the period. Legend Financial Advisors Inc. grew its stake in Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 8 shares in the last quarter. Finally, Ascent Wealth Partners LLC increased its holdings in shares of Broadcom by 0.3% in the 1st quarter. Ascent Wealth Partners LLC now owns 2,964 shares of the semiconductor manufacturer’s stock valued at $3,929,000 after purchasing an additional 8 shares during the period. 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.