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

Broadcom Inc. (NASDAQ:AVGO) has been given an average recommendation of “Moderate Buy” by the twenty-seven research firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and twenty-five have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $231.48.

A number of equities analysts have issued reports on the company. Benchmark restated a “buy” rating and set a $255.00 price target on shares of Broadcom in a report on Friday. Truist Financial increased their price target on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft increased their price target on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Piper Sandler increased their price target on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Robert W. Baird increased their price target on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th.

Insider Activity

In other news, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the sale, the insider now directly owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 in the last ninety days. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Broadcom

Large investors have recently made changes to their positions in the business. AMF Tjanstepension AB increased its holdings in Broadcom by 856.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock worth $175,101,000 after acquiring an additional 908,585 shares during the last quarter. Wealth Group Ltd. increased its holdings in Broadcom by 900.0% in the 3rd quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer’s stock worth $304,000 after acquiring an additional 1,584 shares during the last quarter. Swedbank AB increased its holdings in Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after acquiring an additional 16,453,718 shares during the last quarter. Howard Capital Management Group LLC increased its holdings in Broadcom by 2,219.8% in the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after acquiring an additional 2,908 shares during the last quarter. Finally, Pettinga Financial Advisors LLC increased its holdings in Broadcom by 896.9% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,911 shares of the semiconductor manufacturer’s stock worth $502,000 after acquiring an additional 2,619 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

NASDAQ:AVGO opened at $194.96 on Monday. The company has a market capitalization of $913.85 billion, a PE ratio of 159.02, a P/E/G ratio of 2.29 and a beta of 1.01. The company has a 50 day simple moving average of $222.28 and a two-hundred day simple moving average of $193.12. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.

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

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is currently 191.87%.

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.