Mizuho Boosts Broadcom (NASDAQ:AVGO) Price Target to $220.00

Broadcom (NASDAQ:AVGO) had its price objective increased by Mizuho from $190.00 to $220.00 in a report released on Monday morning, Marketbeat reports. They currently have an outperform rating on the semiconductor manufacturer’s stock.

Other research analysts have also issued reports about the company. Oppenheimer decreased their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. William Blair started coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Morgan Stanley increased their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Bank of America reissued a “buy” rating and issued a $215.00 price objective (up from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Finally, TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.54.

Broadcom Price Performance

AVGO opened at $181.53 on Monday. The stock’s 50-day moving average price is $165.88 and its 200 day moving average price is $152.92. Broadcom has a 12-month low of $81.83 and a 12-month high of $186.42. The firm has a market cap of $845.00 billion, a price-to-earnings ratio of 7.81, a PEG ratio of 2.99 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 earnings per share. As a group, sell-side analysts expect that Broadcom will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.17%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is presently 9.12%.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the transaction, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now directly owns 34,750 shares of the company’s stock, valued at $6,064,917.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 over the last three months. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Broadcom

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Legend Financial Advisors Inc. grew 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 buying an additional 8 shares during the period. Richardson Capital Management LLC acquired a new stake in shares of Broadcom in the 1st quarter worth approximately $29,000. Delta Asset Management LLC TN increased its stake in 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 purchasing an additional 17 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in Broadcom during the first quarter worth $36,000. Finally, Tsfg LLC boosted its position in Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

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.