Broadcom Inc. (NASDAQ:AVGO) Given Average Recommendation of “Moderate Buy” by Analysts

Broadcom Inc. (NASDAQ:AVGO) has earned a consensus rating of “Moderate Buy” from the twenty-six ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and twenty-four have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $221.88.

A number of brokerages have commented on AVGO. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. The Goldman Sachs Group boosted their price objective on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Evercore ISI raised their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Hsbc Global Res raised Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Robert W. Baird raised their price target on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the sale, the insider now owns 399,460 shares of the company’s stock, valued at $70,744,366. This trade represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,670 shares of company stock valued at $16,629,388 over the last three months. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Broadcom

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

Broadcom Stock Performance

AVGO opened at $239.68 on Wednesday. The stock has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 208.24, a PEG ratio of 2.15 and a beta of 1.13. Broadcom has a fifty-two week low of $104.15 and a fifty-two week high of $251.88. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a fifty day moving average of $180.49 and a 200 day moving average of $168.36.

Broadcom (NASDAQ:AVGO) last posted its 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 firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the company earned $0.98 EPS. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Broadcom will post 3.79 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.98%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

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.