Broadcom Inc. (NASDAQ:AVGO) Receives $231.48 Consensus Price Target from Analysts

Broadcom Inc. (NASDAQ:AVGO) has been assigned a consensus rating of “Moderate Buy” from the twenty-seven research firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $231.48.

AVGO has been the subject of several research analyst reports. Mizuho cut their price objective on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Barclays increased their price objective on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Evercore ISI boosted their target price on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Morgan Stanley increased their price target on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Finally, Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the transaction, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. This represents a 5.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 785,976 shares of company stock valued at $147,912,102 in the last three months. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of Broadcom

Several hedge funds have recently modified their holdings of the stock. Centre Asset Management LLC bought a new position in Broadcom in the first quarter valued at about $4,795,000. Hobart Private Capital LLC acquired a new position in Broadcom during the 1st quarter valued at about $216,000. Trust Co of the South boosted its stake in shares of Broadcom by 3.5% in the 1st quarter. Trust Co of the South now owns 4,016 shares of the semiconductor manufacturer’s stock valued at $672,000 after purchasing an additional 136 shares during the last quarter. Modus Advisors LLC grew its position in shares of Broadcom by 15.2% during the 1st quarter. Modus Advisors LLC now owns 3,966 shares of the semiconductor manufacturer’s stock worth $664,000 after buying an additional 522 shares during the period. Finally, Neville Rodie & Shaw Inc. raised its stake in shares of Broadcom by 0.8% during the first quarter. Neville Rodie & Shaw Inc. now owns 41,583 shares of the semiconductor manufacturer’s stock worth $6,962,000 after buying an additional 318 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Up 0.7 %

Broadcom stock opened at $168.52 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The firm has a fifty day moving average price of $206.64 and a two-hundred day moving average price of $196.54. The firm has a market cap of $792.37 billion, a price-to-earnings ratio of 137.46, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

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.