Broadcom (NASDAQ:AVGO) Price Target Raised to $225.00

Broadcom (NASDAQ:AVGO) had its price target raised by Cantor Fitzgerald from $200.00 to $225.00 in a report issued on Tuesday, Benzinga reports. They currently have an overweight rating on the semiconductor manufacturer’s stock.

Several other analysts have also recently commented on AVGO. Citigroup reiterated a buy rating and set a $156.00 price target on shares of Broadcom in a research report on Tuesday, June 11th. Mizuho boosted their price target on Broadcom from $162.50 to $190.00 and gave the stock a buy rating in a research report on Thursday, June 13th. StockNews.com cut Broadcom from a buy rating to a hold rating in a research report on Tuesday, July 23rd. Wells Fargo & Company boosted their price target on Broadcom from $143.00 to $170.00 and gave the stock an equal weight rating in a research report on Thursday, June 13th. Finally, JPMorgan Chase & Co. boosted their price target on Broadcom from $200.00 to $210.00 and gave the stock an overweight rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $190.29.

Broadcom Stock Down 2.3 %

Broadcom stock opened at $181.48 on Tuesday. The stock has a market capitalization of $847.62 billion, a PE ratio of 157.67, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. Broadcom has a 12 month low of $81.83 and a 12 month high of $186.42. The business has a 50 day simple moving average of $162.91 and a 200-day simple moving average of $151.64. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business’s revenue was up 47.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.95 earnings per share. On average, analysts anticipate that Broadcom will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a dividend of $0.53 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.17%. Broadcom’s dividend payout ratio is presently 184.19%.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the sale, the insider now owns 380,560 shares of the company’s stock, valued at $69,596,812.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the sale, the insider now owns 380,560 shares of the company’s stock, valued at $69,596,812.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 295,130 shares of company stock valued at $50,646,622. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Legend Financial Advisors Inc. increased its holdings in shares of Broadcom by 72.7% in the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 8 shares during the last quarter. Richardson Capital Management LLC purchased a new position in shares of Broadcom in the 1st quarter valued at about $29,000. Delta Asset Management LLC TN increased its holdings in shares of Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new position in Broadcom during the 1st quarter worth approximately $36,000. Finally, Creekmur Asset Management LLC purchased a new position in Broadcom during the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

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.