Broadcom (NASDAQ:AVGO) Price Target Raised to $205.00

Broadcom (NASDAQ:AVGO) had its target price hoisted by Barclays from $200.00 to $205.00 in a research report released on Monday morning,Benzinga reports. They currently have an overweight rating on the semiconductor manufacturer’s stock.

A number of other research analysts have also recently commented on the company. Morgan Stanley raised their target price on Broadcom from $180.00 to $233.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Rosenblatt Securities restated a “buy” rating and issued a $240.00 price target on shares of Broadcom in a research note on Wednesday, December 11th. Jefferies Financial Group boosted their target price on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Citigroup upped their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $220.54.

Broadcom Stock Down 6.9 %

Shares of NASDAQ AVGO opened at $223.62 on Monday. The company has a market cap of $1.04 trillion, a price-to-earnings ratio of 194.28, a PEG ratio of 2.15 and a beta of 1.13. Broadcom has a 52 week low of $104.15 and a 52 week high of $251.88. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The firm’s fifty day moving average is $178.05 and its 200 day moving average is $166.48.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the company posted $0.98 EPS. Broadcom’s quarterly revenue was up 51.2% compared to the same quarter last year. On average, equities research analysts expect that Broadcom will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be issued a $0.59 dividend. The ex-dividend date of this dividend is Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.06%. Broadcom’s payout ratio is 191.87%.

Insider Activity

In related news, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the sale, the director now owns 34,750 shares in the company, valued at $6,064,917.50. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 380,560 shares in the company, valued at $69,596,812.80. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 235,880 shares of company stock valued at $41,131,686. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Broadcom

A number of large investors have recently added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. acquired a new stake in Broadcom in the second quarter valued at approximately $128,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Broadcom in the 2nd quarter valued at $136,000. American Capital Advisory LLC purchased a new position in Broadcom in the 2nd quarter worth $169,000. Semus Wealth Partners LLC acquired a new stake in Broadcom during the 2nd quarter worth about $202,000. Finally, Palisades Hudson Asset Management L.P. purchased a new stake in Broadcom during the 2nd quarter valued at about $204,000. 76.43% of the stock is currently owned by 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.