Broadcom Inc. (NASDAQ:AVGO) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Broadcom Inc. (NASDAQ:AVGOGet Rating) have received a consensus recommendation of “Moderate Buy” from the twenty-one analysts that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $667.37.

A number of analysts recently issued reports on the company. Mizuho decreased their target price on Broadcom from $725.00 to $700.00 and set a “buy” rating for the company in a research report on Friday, December 9th. Bank of America increased their price objective on Broadcom from $625.00 to $650.00 in a research report on Friday, December 9th. Deutsche Bank Aktiengesellschaft increased their price objective on Broadcom from $575.00 to $590.00 in a research report on Wednesday, December 14th. Oppenheimer reaffirmed an “outperform” rating and set a $720.00 price objective on shares of Broadcom in a research report on Monday, December 5th. Finally, Wells Fargo & Company began coverage on Broadcom in a report on Friday, December 9th. They issued an “equal weight” rating for the company.

Broadcom Stock Up 1.3 %

Shares of NASDAQ AVGO opened at $570.78 on Wednesday. The stock has a market cap of $238.52 billion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 1.19 and a beta of 1.08. The company has a quick ratio of 2.35, a current ratio of 2.62 and a debt-to-equity ratio of 1.72. Broadcom has a 52-week low of $415.07 and a 52-week high of $645.31. The business has a 50-day moving average price of $549.52 and a 200 day moving average price of $514.14.

Broadcom (NASDAQ:AVGOGet Rating) last announced its earnings results on Thursday, December 8th. The semiconductor manufacturer reported $9.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.50 by $0.25. The firm had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.90 billion. Broadcom had a return on equity of 70.00% and a net margin of 34.62%. The business’s revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the firm earned $7.01 EPS. Equities research analysts forecast that Broadcom will post 37.39 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Tuesday, December 20th were paid a $4.60 dividend. This is an increase from Broadcom’s previous quarterly dividend of $4.10. This represents a $18.40 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Monday, December 19th. Broadcom’s dividend payout ratio (DPR) is presently 69.43%.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 170 shares of the firm’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $574.86, for a total transaction of $97,726.20. Following the completion of the transaction, the director now owns 2,981 shares of the company’s stock, valued at $1,713,657.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Broadcom

Hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in shares of Broadcom by 53.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 3,420,481 shares of the semiconductor manufacturer’s stock valued at $1,528,063,000 after purchasing an additional 1,191,113 shares during the period. First Trust Advisors LP grew its position in shares of Broadcom by 159.7% in the third quarter. First Trust Advisors LP now owns 1,104,656 shares of the semiconductor manufacturer’s stock valued at $490,478,000 after purchasing an additional 679,250 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Broadcom by 11.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,682,635 shares of the semiconductor manufacturer’s stock valued at $2,948,563,000 after purchasing an additional 488,405 shares during the period. Renaissance Technologies LLC grew its position in shares of Broadcom by 442.9% in the third quarter. Renaissance Technologies LLC now owns 594,996 shares of the semiconductor manufacturer’s stock valued at $264,184,000 after purchasing an additional 485,410 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in shares of Broadcom by 91.4% in the third quarter. Los Angeles Capital Management LLC now owns 919,152 shares of the semiconductor manufacturer’s stock valued at $408,113,000 after purchasing an additional 438,956 shares during the period. Hedge funds and other institutional investors own 81.28% of the company’s stock.

Broadcom Company Profile

(Get Rating)

Broadcom, Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.

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Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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