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

Shares of Broadcom Inc. (NASDAQ:AVGO) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-six research firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $221.88.

Several equities research analysts recently commented on the stock. TD Cowen lifted their price target on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Evercore ISI boosted their target price on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Cantor Fitzgerald raised their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Piper Sandler boosted their price objective on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Susquehanna increased their price objective on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th.

Broadcom Trading Up 1.1 %

NASDAQ:AVGO opened at $220.79 on Wednesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom has a 1 year low of $104.15 and a 1 year high of $251.88. The stock has a market cap of $1.03 trillion, a P/E ratio of 191.82, a P/E/G ratio of 2.15 and a beta of 1.13. The stock has a 50-day simple moving average of $179.49 and a 200-day simple moving average of $167.66.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm’s revenue was up 51.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 earnings per share. As a group, analysts anticipate that Broadcom will post 3.79 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be given a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.07%. The ex-dividend date is Monday, December 23rd. Broadcom’s dividend payout ratio is presently 191.87%.

Insider Activity

In other news, insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the transaction, the insider now owns 399,460 shares in the company, valued at $70,744,366. This trade represents a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 150,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the sale, the chief executive officer now owns 1,181,910 shares in the company, valued at $204,399,515.40. This represents a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 242,420 shares of company stock worth $42,701,286. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AVGO. AXA S.A. raised its holdings in shares of Broadcom by 2.7% in the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock worth $467,334,000 after acquiring an additional 7,608 shares during the last quarter. Strait & Sound Wealth Management LLC raised its stake in Broadcom by 829.8% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock valued at $1,371,000 after purchasing an additional 7,095 shares during the last quarter. Catalyst Financial Partners LLC lifted its holdings in Broadcom by 943.3% in the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock valued at $3,473,000 after purchasing an additional 18,206 shares in the last quarter. Whittier Trust Co. boosted its stake in shares of Broadcom by 947.2% during the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock worth $119,000,000 after purchasing an additional 623,983 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of Broadcom by 969.3% during the 3rd quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock worth $66,696,000 after purchasing an additional 350,485 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

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.