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

Shares of Broadcom Inc. (NASDAQ:AVGO) have been given an average recommendation of “Buy” by the thirty-two brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $438.6071.

A number of analysts have recently weighed in on the stock. Evercore ISI upped their price target on shares of Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. KeyCorp reaffirmed an “overweight” rating and set a $500.00 price target (up from $460.00) on shares of Broadcom in a research note on Friday, December 12th. Morgan Stanley lifted their price target on Broadcom from $443.00 to $462.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. The Goldman Sachs Group restated a “buy” rating and issued a $450.00 price objective on shares of Broadcom in a report on Monday, January 5th. Finally, Wall Street Zen raised Broadcom from a “hold” rating to a “buy” rating in a report on Saturday, December 13th.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $347.12, for a total value of $10,413,600.00. Following the transaction, the insider owned 210,573 shares of the company’s stock, valued at approximately $73,094,099.76. This represents a 12.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harry L. You acquired 1,000 shares of the business’s stock in a transaction dated Thursday, December 18th. The shares were bought at an average price of $325.13 per share, with a total value of $325,130.00. Following the transaction, the director directly owned 36,602 shares in the company, valued at approximately $11,900,408.26. The trade was a 2.81% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders sold 779,901 shares of company stock worth $284,069,237. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

A number of institutional investors and hedge funds have recently modified their holdings of AVGO. Miller Global Investments LLC acquired a new stake in shares of Broadcom during the fourth quarter valued at approximately $31,000. JCIC Asset Management Inc. purchased a new position in Broadcom during the 3rd quarter worth approximately $31,000. Nvest Wealth Strategies Inc. acquired a new stake in Broadcom during the 4th quarter valued at $33,000. Longfellow Investment Management Co. LLC acquired a new stake in Broadcom during the 2nd quarter valued at $27,000. Finally, Legend Financial Advisors Inc. purchased a new stake in shares of Broadcom in the second quarter valued at $28,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Up 0.1%

Shares of AVGO stock opened at $333.24 on Thursday. Broadcom has a 1 year low of $138.10 and a 1 year high of $414.61. The firm has a market capitalization of $1.58 trillion, a PE ratio of 70.01, a price-to-earnings-growth ratio of 1.10 and a beta of 1.21. The stock has a fifty day moving average of $356.26 and a two-hundred day moving average of $336.89. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.58 and a current ratio of 1.71.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. The business had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $17.46 billion. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The company’s revenue was up 28.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.42 earnings per share. As a group, research analysts expect that Broadcom will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were paid a $0.65 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. This is an increase from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s dividend payout ratio is presently 54.62%.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.