Broadcom (AVGO) Set to Announce Quarterly Earnings on Thursday

Broadcom (NASDAQ:AVGO) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, December 12th. Analysts expect the company to announce earnings of $1.39 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Broadcom Price Performance

Shares of Broadcom stock opened at $178.94 on Tuesday. Broadcom has a twelve month low of $95.61 and a twelve month high of $186.42. The stock has a market capitalization of $835.75 billion, a P/E ratio of 155.60, a PEG ratio of 2.11 and a beta of 1.13. 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 business’s fifty day moving average price is $173.14 and its 200 day moving average price is $163.05.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of 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 trade was a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the sale, the insider now directly owns 399,460 shares of the company’s stock, 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. Over the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Rosenblatt Securities reduced their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, September 6th. UBS Group lifted their target price on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Morgan Stanley lifted their target price on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Cantor Fitzgerald lifted their target price on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Hsbc Global Res upgraded Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $195.96.

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.