Broadcom Limited (NASDAQ:AVGO) has earned an average recommendation of “Buy” from the thirty-seven brokerages that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, thirty-one have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $277.11.
A number of analysts have weighed in on the stock. UBS AG reissued a “buy” rating and set a $265.00 target price (up previously from $245.00) on shares of Broadcom Limited in a research report on Monday, June 5th. B. Riley reissued a “buy” rating and set a $305.00 target price on shares of Broadcom Limited in a research report on Saturday, August 26th. Vetr raised shares of Broadcom Limited from a “hold” rating to a “buy” rating and set a $258.25 target price for the company in a research report on Monday, August 14th. J P Morgan Chase & Co reissued a “buy” rating and set a $315.00 target price on shares of Broadcom Limited in a research report on Tuesday. Finally, BidaskClub downgraded shares of Broadcom Limited from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th.
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Shares of Broadcom Limited (NASDAQ:AVGO) traded down 0.24% during midday trading on Friday, hitting $247.14. 1,840,384 shares of the stock traded hands. The firm’s 50-day moving average is $249.74 and its 200 day moving average is $235.37. The company has a market capitalization of $100.59 billion, a price-to-earnings ratio of 188.23 and a beta of 1.07. Broadcom Limited has a 52 week low of $160.62 and a 52 week high of $259.36.
Broadcom Limited (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The company had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the prior year, the firm posted $2.89 earnings per share. The firm’s revenue was up 17.5% compared to the same quarter last year. Equities analysts forecast that Broadcom Limited will post $15.92 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Monday, September 18th. Broadcom Limited’s payout ratio is 348.72%.
In other news, SVP Bryan Ingram sold 10,000 shares of Broadcom Limited stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $244.59, for a total transaction of $2,445,900.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.60% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Intl Fcstone Inc. bought a new stake in shares of Broadcom Limited during the 2nd quarter worth $1,104,000. Achmea Investment Management B.V. raised its stake in shares of Broadcom Limited by 19.2% during the 2nd quarter. Achmea Investment Management B.V. now owns 14,964 shares of the semiconductor manufacturer’s stock worth $3,485,000 after purchasing an additional 2,412 shares during the period. USA Financial Portformulas Corp bought a new stake in shares of Broadcom Limited during the 2nd quarter worth $6,621,000. Sentry Investment Management LLC raised its stake in shares of Broadcom Limited by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 31,719 shares of the semiconductor manufacturer’s stock worth $7,392,000 after purchasing an additional 333 shares during the period. Finally, Toronto Dominion Bank raised its stake in shares of Broadcom Limited by 10.3% during the 2nd quarter. Toronto Dominion Bank now owns 295,961 shares of the semiconductor manufacturer’s stock worth $68,961,000 after purchasing an additional 27,726 shares during the period. Institutional investors own 90.04% of the company’s stock.
About Broadcom Limited
Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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