Broadcom (NASDAQ:AVGO) Price Target Raised to $1,500.00

Broadcom (NASDAQ:AVGO) had its price target raised by Barclays from $1,405.00 to $1,500.00 in a research report sent to investors on Wednesday, MarketBeat.com reports. Barclays currently has an overweight rating on the semiconductor manufacturer’s stock.

A number of other equities research analysts have also issued reports on AVGO. Rosenblatt Securities reaffirmed a buy rating and issued a $1,500.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Evercore ISI assumed coverage on Broadcom in a research report on Tuesday. They issued an outperform rating and a $1,620.00 price target on the stock. The Goldman Sachs Group reaffirmed a buy rating and issued a $1,325.00 price target on shares of Broadcom in a research report on Friday, January 19th. UBS Group raised their target price on Broadcom to $1,480.00 and gave the stock a buy rating in a research report on Monday, February 26th. Finally, Cantor Fitzgerald raised their target price on Broadcom from $1,300.00 to $1,600.00 and gave the stock an overweight rating in a research report on Monday, March 4th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $1,285.41.

Broadcom Stock Performance

Shares of Broadcom stock opened at $1,204.71 on Wednesday. The business has a 50-day moving average of $1,305.11 and a 200 day moving average of $1,118.75. Broadcom has a 12 month low of $601.29 and a 12 month high of $1,438.17. The stock has a market capitalization of $558.29 billion, a price-to-earnings ratio of 44.65, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. Broadcom’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter last year, the company earned $9.83 EPS. As a group, sell-side analysts forecast that Broadcom will post 35.88 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.74%. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Justine Page sold 110 shares of Broadcom stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the transaction, the director now owns 3,125 shares in the company, valued at $4,134,375. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is currently owned by insiders.

Institutional Trading of Broadcom

A number of institutional investors have recently modified their holdings of the business. Stuart Chaussee & Associates Inc. purchased a new stake in Broadcom during the fourth quarter worth $25,000. Legend Financial Advisors Inc. boosted its position in Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 8 shares in the last quarter. PSI Advisors LLC boosted its position in Broadcom by 66.7% during the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 10 shares in the last quarter. Macroview Investment Management LLC purchased a new stake in Broadcom during the third quarter worth $29,000. Finally, BKM Wealth Management LLC purchased a new stake in Broadcom during the fourth quarter worth $29,000. 76.43% of the stock is currently 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.