Broadcom (NASDAQ:AVGO) Price Target Raised to $210.00

Broadcom (NASDAQ:AVGO) had its price objective increased by TD Cowen from $175.00 to $210.00 in a report published on Tuesday, Marketbeat reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

Other equities analysts also recently issued reports about the stock. Melius started coverage on shares of Broadcom in a research note on Monday, June 3rd. They issued a buy rating and a $185.00 target price for the company. StockNews.com upgraded shares of Broadcom from a hold rating to a buy rating in a research report on Monday, July 15th. Morgan Stanley reiterated an overweight rating and issued a $165.80 price objective on shares of Broadcom in a research report on Monday, June 10th. Jefferies Financial Group lifted their target price on Broadcom from $155.00 to $205.00 and gave the company a buy rating in a research note on Thursday, June 13th. Finally, Truist Financial upped their price target on Broadcom from $156.60 to $204.50 and gave the company a buy rating in a research note on Thursday, June 13th. One equities research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $240.08.

Broadcom Trading Down 2.0 %

Shares of Broadcom stock opened at $157.35 on Tuesday. The stock has a market capitalization of $732.45 billion, a P/E ratio of 6.77, a price-to-earnings-growth ratio of 2.70 and a beta of 1.17. Broadcom has a 12-month low of $79.51 and a 12-month high of $185.16. The company has a quick ratio of 1.16, a current ratio of 1.25 and a debt-to-equity ratio of 1.02. The company has a 50-day simple moving average of $185.77 and a 200 day simple moving average of $146.74.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, June 12th. The semiconductor manufacturer reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.02. Broadcom had a return on equity of 35.82% and a net margin of 24.10%. The firm had revenue of $12.49 billion during the quarter, compared to the consensus estimate of $12.06 billion. During the same quarter in the previous year, the company posted $0.95 EPS. The business’s revenue for the quarter was up 43.0% compared to the same quarter last year. Research analysts expect that Broadcom will post 3.72 earnings per share for the current fiscal year.

Broadcom Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 24th were paid a $0.525 dividend. The ex-dividend date was Monday, June 24th. This represents a $2.10 dividend on an annualized basis and a yield of 1.33%. Broadcom’s payout ratio is 9.03%.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the transaction, the chief executive officer now owns 138,191 shares in the company, valued at approximately $235,746,936.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Broadcom news, Director Justine Page sold 2,540 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the transaction, the director now owns 27,480 shares in the company, valued at approximately $4,809,714.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the sale, the chief executive officer now owns 138,191 shares in the company, valued at $235,746,936.45. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Pathway Financial Advisors LLC lifted its position in shares of Broadcom by 11.1% in the fourth quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock worth $1,041,000 after purchasing an additional 93 shares in the last quarter. Todd Asset Management LLC boosted its stake in shares of Broadcom by 26.3% during the 4th quarter. Todd Asset Management LLC now owns 79,765 shares of the semiconductor manufacturer’s stock worth $89,038,000 after buying an additional 16,608 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Broadcom by 3.0% in the 4th quarter. Benjamin Edwards Inc. now owns 3,141 shares of the semiconductor manufacturer’s stock valued at $3,506,000 after acquiring an additional 91 shares in the last quarter. Barry Investment Advisors LLC bought a new position in shares of Broadcom in the 4th quarter valued at about $228,000. Finally, Stegent Equity Advisors Inc. bought a new stake in Broadcom during the fourth quarter worth about $271,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

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.