Sanford C. Bernstein reaffirmed their outperform rating on shares of Broadcom Limited (NASDAQ:AVGO) in a research report released on Tuesday. Sanford C. Bernstein currently has a $285.00 price target on the semiconductor manufacturer’s stock.
A number of other research analysts have also commented on AVGO. UBS AG reiterated a buy rating and issued a $265.00 price target on shares of Broadcom Limited in a research note on Monday, June 26th. B. Riley reiterated a buy rating and issued a $305.00 price target on shares of Broadcom Limited in a research note on Saturday, August 26th. Vetr upgraded shares of Broadcom Limited from a hold rating to a buy rating and set a $258.25 price target on the stock in a research note on Monday, August 14th. BidaskClub lowered shares of Broadcom Limited from a strong-buy rating to a buy rating in a research note on Friday, August 11th. Finally, Bank of America Corporation reiterated a buy rating and issued a $300.00 price target on shares of Broadcom Limited in a research note on Friday, October 6th. One investment analyst has rated the stock with a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $276.93.
Broadcom Limited (AVGO) traded up 0.45% during mid-day trading on Tuesday, reaching $249.86. The company’s stock had a trading volume of 505,199 shares. The stock has a market capitalization of $101.94 billion, a price-to-earnings ratio of 190.30 and a beta of 1.08. The firm has a 50-day moving average of $245.37 and a 200-day moving average of $239.25. Broadcom Limited has a 52 week low of $160.62 and a 52 week high of $259.36.
Broadcom Limited (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, beating the Zacks’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The business had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the prior year, the business earned $2.89 EPS. Broadcom Limited’s quarterly revenue was up 17.5% on a year-over-year basis. On average, equities research analysts expect that Broadcom Limited will post $15.91 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 1.64%. The ex-dividend date was Monday, September 18th. Broadcom Limited’s dividend payout ratio (DPR) is currently 348.72%.
In other news, SVP Charlie B. Kawwas sold 1,788 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $247.28, for a total transaction of $442,136.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Bryan Ingram sold 30,000 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $244.01, for a total transaction of $7,320,300.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,788 shares of company stock valued at $15,098,237. 3.60% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of AVGO. BlackRock Inc. boosted its stake in Broadcom Limited by 2,707.3% during the first quarter. BlackRock Inc. now owns 23,131,935 shares of the semiconductor manufacturer’s stock worth $5,064,971,000 after acquiring an additional 22,307,935 shares in the last quarter. Vanguard Group Inc. boosted its stake in Broadcom Limited by 7.0% during the first quarter. Vanguard Group Inc. now owns 26,768,435 shares of the semiconductor manufacturer’s stock worth $5,861,217,000 after acquiring an additional 1,746,144 shares in the last quarter. Harbour Capital Advisors LLC boosted its stake in Broadcom Limited by 22,924.6% during the second quarter. Harbour Capital Advisors LLC now owns 1,530,905 shares of the semiconductor manufacturer’s stock worth $6,569,000 after acquiring an additional 1,524,256 shares in the last quarter. Wellington Management Group LLP boosted its stake in Broadcom Limited by 29.3% during the first quarter. Wellington Management Group LLP now owns 6,710,760 shares of the semiconductor manufacturer’s stock worth $1,469,388,000 after acquiring an additional 1,519,598 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Broadcom Limited by 18.2% during the second quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock worth $2,028,442,000 after acquiring an additional 1,338,695 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.
Broadcom Limited Company Profile
Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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