Broadcom Inc (NASDAQ:AVGO) shares reached a new 52-week high during mid-day trading on Monday after Mizuho raised their price target on the stock from $305.00 to $335.00. Mizuho currently has a buy rating on the stock. Broadcom traded as high as $317.52 and last traded at $315.16, with a volume of 57126 shares changing hands. The stock had previously closed at $317.03.
AVGO has been the topic of several other reports. Deutsche Bank upped their target price on Broadcom from $300.00 to $330.00 and gave the company a “buy” rating in a report on Friday, March 15th. Wells Fargo & Co restated a “hold” rating on shares of Broadcom in a report on Friday, March 15th. Craig Hallum increased their price target on Broadcom from $305.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, March 15th. BidaskClub upgraded Broadcom from a “hold” rating to a “buy” rating in a report on Tuesday, March 26th. Finally, SunTrust Banks increased their price target on Broadcom to $339.00 and gave the stock a “buy” rating in a report on Friday, March 15th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirty-two have given a buy rating to the company. Broadcom currently has an average rating of “Buy” and an average price target of $301.99.
In related news, insider Hock E. Tan sold 20,000 shares of the stock in a transaction on Tuesday, January 15th. The stock was sold at an average price of $254.99, for a total value of $5,099,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas H. Krause sold 14,494 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $295.45, for a total value of $4,282,252.30. The disclosure for this sale can be found here. Insiders have sold 87,824 shares of company stock worth $25,189,319 over the last ninety days. 3.30% of the stock is owned by insiders.
The stock has a market cap of $122.48 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 1.44 and a beta of 0.68. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 1.47.
Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $1.23. Broadcom had a return on equity of 30.31% and a net margin of 30.50%. The firm had revenue of $5.79 billion during the quarter, compared to analyst estimates of $5.83 billion. During the same period last year, the firm posted $5.12 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. As a group, analysts predict that Broadcom Inc will post 17.65 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a dividend of $2.65 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $10.60 annualized dividend and a dividend yield of 3.36%. Broadcom’s payout ratio is 56.29%.
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Broadcom Company Profile (NASDAQ:AVGO)
Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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