Broadcom Inc. (NASDAQ:AVGO) Receives $1,673.04 Average PT from Analysts

Shares of Broadcom Inc. (NASDAQ:AVGO) have been assigned an average recommendation of “Moderate Buy” from the twenty-eight ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and twenty-six have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $1,673.04.

AVGO has been the topic of a number of analyst reports. Jefferies Financial Group boosted their price objective on shares of Broadcom from $1,550.00 to $2,050.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. UBS Group upped their price target on Broadcom from $1,610.00 to $1,735.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Mizuho lifted their price objective on Broadcom from $1,625.00 to $1,900.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Benchmark restated a “buy” rating and set a $1,720.00 target price on shares of Broadcom in a report on Thursday, March 21st. Finally, The Goldman Sachs Group raised their price target on Broadcom from $1,550.00 to $1,850.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th.

Insiders Place Their Bets

In related news, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the sale, the chief executive officer now owns 168,096 shares of the company’s stock, valued at $220,583,976. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the sale, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $1,367.52, for a total value of $3,418,800.00. Following the completion of the sale, the insider now owns 44,474 shares of the company’s stock, valued at $60,819,084.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,364 shares of company stock valued at $13,953,966. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stuart Chaussee & Associates Inc. bought a new stake in shares of Broadcom in the fourth quarter worth $25,000. Legend Financial Advisors Inc. boosted its position in Broadcom by 72.7% in 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 during the last quarter. PSI Advisors LLC grew its stake in shares of Broadcom by 66.7% during the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 10 shares during the period. BKM Wealth Management LLC bought a new stake in shares of Broadcom during the 4th quarter valued at about $29,000. Finally, Richardson Capital Management LLC purchased a new stake in shares of Broadcom during the 1st quarter valued at about $29,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

AVGO opened at $1,605.53 on Wednesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.25 and a quick ratio of 1.16. The stock’s 50 day simple moving average is $1,433.70 and its 200 day simple moving average is $1,305.45. The firm has a market cap of $747.36 billion, a price-to-earnings ratio of 69.06, a PEG ratio of 2.79 and a beta of 1.17. Broadcom has a 1 year low of $795.09 and a 1 year high of $1,851.62.

Broadcom’s stock is scheduled to split before the market opens on Monday, July 15th. The 10-1 split was announced on Wednesday, June 12th. The newly created shares will be payable to shareholders after the market closes on Friday, July 12th.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, June 12th. The semiconductor manufacturer reported $10.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.78 by $0.18. Broadcom had a net margin of 24.10% and a return on equity of 35.82%. The firm had revenue of $12.49 billion for the quarter, compared to analysts’ expectations of $12.06 billion. During the same quarter last year, the business earned $9.51 earnings per share. The business’s revenue was up 43.0% on a year-over-year basis. As a group, analysts predict that Broadcom will post 37.19 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 24th were given a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a yield of 1.31%. The ex-dividend date was Monday, June 24th. Broadcom’s dividend payout ratio (DPR) is 90.32%.

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.