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

Shares of Broadcom Inc. (NASDAQ:AVGO) have been assigned an average rating of “Moderate Buy” from the twenty-six research firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and twenty-four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $225.04.

Several analysts have issued reports on AVGO shares. Citigroup boosted their price objective on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Mizuho upped their price target on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Morgan Stanley lowered their price objective on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th.

Broadcom Stock Performance

NASDAQ:AVGO opened at $236.35 on Thursday. The company has a 50-day moving average of $222.47 and a 200-day moving average of $185.75. The firm has a market cap of $1.11 trillion, a price-to-earnings ratio of 192.78, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom has a twelve month low of $119.76 and a twelve month high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period last year, the firm posted $0.98 earnings per share. Analysts forecast that Broadcom will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.00%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is presently 192.50%.

Insider Activity at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the transaction, the director now directly owns 30,450 shares in the company, valued at $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Canton Hathaway LLC acquired a new position in Broadcom in the 4th quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at $26,000. Sellwood Investment Partners LLC acquired a new position in shares of Broadcom in the fourth quarter valued at $32,000. Bellevue Asset Management LLC bought a new position in Broadcom in the fourth quarter worth $33,000. Finally, Castleview Partners LLC increased its holdings in Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 134 shares during the period. 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.