Broadcom (NASDAQ:AVGO) had its target price lifted by Cowen from $285.00 to $310.00 in a research report sent to investors on Friday, Briefing.com Automated Import reports. Cowen currently has a market perform rating on the semiconductor manufacturer’s stock.
Other equities research analysts have also issued reports about the company. Jefferies Financial Group set a $350.00 target price on Broadcom and gave the stock a buy rating in a research report on Friday, September 13th. Sanford C. Bernstein set a $340.00 price target on Broadcom and gave the stock a buy rating in a research note on Friday, September 13th. Morgan Stanley raised Broadcom from an equal weight rating to an overweight rating in a research note on Wednesday, November 27th. ValuEngine raised Broadcom from a sell rating to a hold rating in a research note on Wednesday. Finally, KeyCorp increased their price target on Broadcom from $330.00 to $340.00 and gave the stock an overweight rating in a research note on Friday, September 13th. Nine analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Broadcom has a consensus rating of Buy and an average price target of $328.00.
NASDAQ AVGO traded down $12.38 during trading hours on Friday, hitting $315.42. The company had a trading volume of 6,976,222 shares, compared to its average volume of 1,823,535. Broadcom has a fifty-two week low of $230.33 and a fifty-two week high of $330.16. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 1.58. The business has a fifty day simple moving average of $309.26 and a 200-day simple moving average of $287.57. The firm has a market cap of $126.82 billion, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 1.51 and a beta of 0.90.
Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $5.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.35 by $0.04. Broadcom had a return on equity of 34.10% and a net margin of 13.44%. The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.74 billion. During the same period last year, the company earned $5.85 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities analysts forecast that Broadcom will post 19.49 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be given a $3.25 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $2.65. This represents a $13.00 dividend on an annualized basis and a dividend yield of 4.12%. Broadcom’s dividend payout ratio (DPR) is 60.88%.
In related news, insider Mark David Brazeal sold 2,000 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $289.43, for a total value of $578,860.00. Also, CEO Hock E. Tan sold 20,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.56, for a total value of $6,291,200.00. Insiders sold a total of 62,000 shares of company stock valued at $18,432,860 in the last quarter. 3.30% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Tarbox Family Office Inc. lifted its stake in Broadcom by 20.2% in the 2nd quarter. Tarbox Family Office Inc. now owns 214 shares of the semiconductor manufacturer’s stock worth $62,000 after acquiring an additional 36 shares in the last quarter. Cresset Asset Management LLC raised its stake in shares of Broadcom by 2.0% during the 2nd quarter. Cresset Asset Management LLC now owns 1,922 shares of the semiconductor manufacturer’s stock worth $558,000 after purchasing an additional 37 shares in the last quarter. Asset Dedication LLC raised its stake in shares of Broadcom by 1.6% during the 3rd quarter. Asset Dedication LLC now owns 2,457 shares of the semiconductor manufacturer’s stock worth $673,000 after purchasing an additional 38 shares in the last quarter. Frontier Wealth Management LLC raised its stake in shares of Broadcom by 5.4% during the 2nd quarter. Frontier Wealth Management LLC now owns 804 shares of the semiconductor manufacturer’s stock worth $231,000 after purchasing an additional 41 shares in the last quarter. Finally, Valley National Advisers Inc. raised its stake in shares of Broadcom by 2.4% during the 2nd quarter. Valley National Advisers Inc. now owns 1,866 shares of the semiconductor manufacturer’s stock worth $537,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.
Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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