Broadcom Inc. (NASDAQ:AVGO) Given Consensus Rating of “Moderate Buy” by Analysts

Broadcom Inc. (NASDAQ:AVGO) has earned an average rating of “Moderate Buy” from the twenty-two research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $1,255.18.

A number of research firms recently commented on AVGO. Rosenblatt Securities restated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a report on Thursday, March 21st. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. UBS Group lifted their price target on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a research report on Friday, January 19th.

Insider Activity at Broadcom

In related news, CFO Kirsten M. Spears sold 3,000 shares of Broadcom stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $1,343.14, for a total value of $4,029,420.00. Following the completion of the transaction, the chief financial officer now directly owns 43,459 shares of the company’s stock, valued at $58,371,521.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the sale, the insider now directly owns 46,974 shares of the company’s stock, valued at approximately $61,957,296.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kirsten M. Spears sold 3,000 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $1,343.14, for a total value of $4,029,420.00. Following the completion of the sale, the chief financial officer now directly owns 43,459 shares of the company’s stock, valued at $58,371,521.26. The disclosure for this sale can be found here. Insiders sold 27,310 shares of company stock valued at $36,869,987 over the last ninety days. 2.00% of the stock is owned by insiders.

Institutional Trading of Broadcom

Institutional investors and hedge funds have recently modified their holdings of the stock. Rise Advisors LLC boosted its position in Broadcom by 76.5% during the 3rd quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 13 shares during the last quarter. Stuart Chaussee & Associates Inc. acquired a new position in Broadcom during the 4th quarter worth approximately $25,000. PSI Advisors LLC boosted its position in Broadcom by 66.7% during the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after acquiring an additional 10 shares during the last quarter. Macroview Investment Management LLC acquired a new position in Broadcom during the 3rd quarter worth approximately $29,000. Finally, BKM Wealth Management LLC acquired a new position in Broadcom during the 4th quarter worth approximately $29,000. 76.43% of the stock is owned by institutional investors.

Broadcom Price Performance

Shares of AVGO opened at $1,382.46 on Friday. The company has a market capitalization of $640.66 billion, a price-to-earnings ratio of 51.24, a P/E/G ratio of 2.85 and a beta of 1.25. Broadcom has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The business’s 50-day moving average is $1,300.62 and its 200-day moving average is $1,099.55.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.83 EPS. Equities research analysts expect that Broadcom will post 36.31 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.52%. Broadcom’s dividend payout ratio is 77.84%.

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.