Broadcom (NASDAQ:AVGO) Earns Outperform Rating from Analysts at William Blair

William Blair began coverage on shares of Broadcom (NASDAQ:AVGO) in a research report report published on Wednesday, Marketbeat.com reports. The firm issued an outperform rating on the semiconductor manufacturer’s stock.

Other analysts also recently issued reports about the company. Barclays upped their price objective on Broadcom from $150.00 to $200.00 and gave the company an overweight rating in a research report on Thursday, June 13th. JPMorgan Chase & Co. raised their price target on shares of Broadcom from $200.00 to $210.00 and gave the stock an overweight rating in a research note on Friday, September 6th. Melius Research began coverage on shares of Broadcom in a research report on Monday, June 3rd. They issued a buy rating and a $185.00 price objective for the company. Piper Sandler lifted their target price on shares of Broadcom from $165.00 to $200.00 and gave the stock an overweight rating in a research note on Thursday, June 13th. Finally, Jefferies Financial Group increased their price target on Broadcom from $155.00 to $205.00 and gave the stock a buy rating in a research note on Thursday, June 13th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $189.23.

Broadcom Trading Up 2.2 %

NASDAQ:AVGO opened at $171.10 on Wednesday. Broadcom has a 52-week low of $79.51 and a 52-week high of $185.16. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The stock has a fifty day simple moving average of $156.81 and a 200-day simple moving average of $146.91. The company has a market capitalization of $796.45 billion, a PE ratio of 7.36, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.95 earnings per share. On average, equities research analysts expect that Broadcom will post 3.77 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be given a $0.53 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Thursday, September 19th. Broadcom’s dividend payout ratio is presently 9.12%.

Insider Activity

In related news, CEO Hock E. Tan sold 7,502 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the transaction, the chief executive officer now owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other 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 sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the completion of the sale, the chief executive officer now owns 138,191 shares in the company, valued at approximately $235,746,936.45. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Trading of Broadcom

Several institutional investors and hedge funds have recently bought and sold shares of AVGO. Legend Financial Advisors Inc. increased its holdings in shares of Broadcom by 72.7% in the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 8 shares during the last quarter. Richardson Capital Management LLC bought a new stake in Broadcom during the first quarter valued at $29,000. Delta Asset Management LLC TN raised its holdings in shares of Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 17 shares during the period. Redmont Wealth Advisors LLC bought a new position in shares of Broadcom in the 1st quarter worth about $36,000. Finally, Ulland Investment Advisors LLC acquired a new position in shares of Broadcom in the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Company Profile

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.