Broadcom Inc. to Post FY2024 Earnings of $3.80 Per Share, William Blair Forecasts (NASDAQ:AVGO)

Broadcom Inc. (NASDAQ:AVGO) – Equities researchers at William Blair issued their FY2024 earnings estimates for shares of Broadcom in a research report issued to clients and investors on Wednesday, September 18th. William Blair analyst S. Naji anticipates that the semiconductor manufacturer will earn $3.80 per share for the year. William Blair has a “Outperform” rating on the stock. The consensus estimate for Broadcom’s current full-year earnings is $3.77 per share. William Blair also issued estimates for Broadcom’s Q4 2024 earnings at $1.15 EPS, Q1 2025 earnings at $1.32 EPS, Q2 2025 earnings at $1.39 EPS, Q3 2025 earnings at $1.45 EPS, Q4 2025 earnings at $1.52 EPS and FY2025 earnings at $5.69 EPS.

Several other analysts have also issued reports on the stock. Piper Sandler raised their price target on shares of Broadcom from $165.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. Oppenheimer decreased their target price on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Rosenblatt Securities decreased their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Citigroup reiterated a “buy” rating and set a $156.00 target price on shares of Broadcom in a research report on Tuesday, June 11th. Finally, The Goldman Sachs Group lifted their target price on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $189.23.

Broadcom Stock Performance

NASDAQ AVGO opened at $174.84 on Monday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm has a market capitalization of $813.86 billion, a price-to-earnings ratio of 7.52, a P/E/G ratio of 2.55 and a beta of 1.16. The company’s fifty day moving average is $156.95 and its two-hundred day moving average is $147.42. Broadcom has a 52-week low of $80.44 and a 52-week high of $185.16.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period last year, the business posted $0.95 EPS.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.21%. Broadcom’s payout ratio is currently 9.12%.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,702 shares of company stock valued at $25,206,941. 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. Legend Financial Advisors Inc. grew its holdings in Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 8 shares during the period. Richardson Capital Management LLC acquired a new position in Broadcom during the first quarter valued at approximately $29,000. Delta Asset Management LLC TN grew its holdings in Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 17 shares during the period. Redmont Wealth Advisors LLC acquired a new position in Broadcom during the first quarter valued at approximately $36,000. Finally, Ulland Investment Advisors LLC acquired a new position in Broadcom during the first quarter valued at approximately $37,000. 76.43% of the stock is owned by institutional investors.

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.