Analysts Set Broadcom Inc. (NASDAQ:AVGO) PT at $1,255.18

Broadcom Inc. (NASDAQ:AVGO) has been given a consensus recommendation of “Moderate Buy” by the twenty-two analysts that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and twenty have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $1,285.41.

AVGO has been the subject of a number of recent research reports. Benchmark reissued a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a research note on Thursday, March 21st. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Mizuho boosted their target price on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a research note on Friday, January 19th.

Broadcom Trading Down 1.8 %

Shares of AVGO stock opened at $1,258.99 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The business has a 50-day moving average price of $1,306.69 and a two-hundred day moving average price of $1,116.18. Broadcom has a 12-month low of $601.29 and a 12-month high of $1,438.17. The firm has a market cap of $583.44 billion, a P/E ratio of 46.66, a price-to-earnings-growth ratio of 2.71 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same quarter in the previous year, the company posted $9.83 earnings per share. The company’s revenue was up 34.2% compared to the same quarter last year. Equities analysts anticipate that Broadcom will post 35.88 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. 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 1.67%. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Insiders Place Their Bets

In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the transaction, the director now owns 45 shares in the company, valued at approximately $62,465.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the sale, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now owns 45 shares in the company, valued at approximately $62,465.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,920 shares of company stock worth $40,306,667. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Broadcom

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Oxinas Partners Wealth Management LLC grew its stake in shares of Broadcom by 50.1% in the 1st quarter. Oxinas Partners Wealth Management LLC now owns 1,036 shares of the semiconductor manufacturer’s stock worth $1,373,000 after buying an additional 346 shares during the last quarter. Naviter Wealth LLC lifted its position in Broadcom by 10.5% in the 1st quarter. Naviter Wealth LLC now owns 2,809 shares of the semiconductor manufacturer’s stock valued at $3,723,000 after acquiring an additional 266 shares in the last quarter. Verum Partners LLC lifted its position in Broadcom by 3.7% in the 1st quarter. Verum Partners LLC now owns 738 shares of the semiconductor manufacturer’s stock valued at $978,000 after acquiring an additional 26 shares in the last quarter. Financial Security Advisor Inc. lifted its position in Broadcom by 3.0% in the 1st quarter. Financial Security Advisor Inc. now owns 609 shares of the semiconductor manufacturer’s stock valued at $810,000 after acquiring an additional 18 shares in the last quarter. Finally, State of Michigan Retirement System lifted its position in Broadcom by 3.9% in the 1st quarter. State of Michigan Retirement System now owns 174,466 shares of the semiconductor manufacturer’s stock valued at $231,239,000 after acquiring an additional 6,600 shares in the last quarter. Hedge funds and other institutional investors 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.