Broadcom (AVGO) PT Raised to $335.00 at Mizuho

Broadcom (NASDAQ:AVGO) had its target price boosted by Mizuho from $305.00 to $335.00 in a research report released on Friday morning, The Fly reports. Mizuho currently has a buy rating on the semiconductor manufacturer’s stock.

Other analysts have also recently issued research reports about the company. KeyCorp reissued an overweight rating and set a $335.00 price objective (up previously from $310.00) on shares of Broadcom in a research report on Tuesday, April 2nd. Cowen cut Broadcom from an outperform rating to a market perform rating and set a $280.00 price objective for the company. in a research report on Friday, February 22nd. Citigroup began coverage on Broadcom in a research report on Friday, March 15th. They set a buy rating for the company. Barclays lifted their price objective on Broadcom from $265.00 to $275.00 and gave the company an overweight rating in a research report on Friday, March 15th. Finally, SunTrust Banks lifted their price objective on Broadcom to $339.00 and gave the company a buy rating in a research report on Friday, March 15th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirty-two have given a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $301.99.

AVGO opened at $316.40 on Friday. The firm has a market cap of $122.48 billion, a P/E ratio of 16.80, a PEG ratio of 1.44 and a beta of 0.68. Broadcom has a 1 year low of $197.46 and a 1 year high of $317.52. 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 released its quarterly earnings data on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $1.23. The firm had revenue of $5.79 billion during the quarter, compared to analysts’ expectations of $5.83 billion. Broadcom had a return on equity of 30.31% and a net margin of 30.50%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $5.12 earnings per share. As a group, analysts predict that Broadcom will post 17.65 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $2.65 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $10.60 dividend on an annualized basis and a dividend yield of 3.35%. Broadcom’s payout ratio is presently 56.29%.

In other news, SVP Charlie B. Kawwas sold 9,330 shares of Broadcom stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $295.93, for a total value of $2,761,026.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Charlie B. Kawwas sold 10,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $304.51, for a total value of $3,045,100.00. The disclosure for this sale can be found here. Insiders sold 67,824 shares of company stock worth $20,089,519 over the last quarter. 3.30% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in AVGO. Lincoln National Corp boosted its holdings in shares of Broadcom by 4.1% in the 4th quarter. Lincoln National Corp now owns 929 shares of the semiconductor manufacturer’s stock worth $236,000 after acquiring an additional 37 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in Broadcom by 1.4% during the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 2,948 shares of the semiconductor manufacturer’s stock worth $886,000 after buying an additional 40 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Broadcom by 2.9% during the 4th quarter. Quadrant Capital Group LLC now owns 1,432 shares of the semiconductor manufacturer’s stock worth $346,000 after buying an additional 41 shares in the last quarter. Intl Fcstone Inc. lifted its holdings in Broadcom by 3.7% during the 1st quarter. Intl Fcstone Inc. now owns 1,167 shares of the semiconductor manufacturer’s stock worth $351,000 after buying an additional 42 shares in the last quarter. Finally, Signature Wealth Management Group lifted its holdings in Broadcom by 1.9% during the 4th quarter. Signature Wealth Management Group now owns 2,389 shares of the semiconductor manufacturer’s stock worth $607,000 after buying an additional 44 shares in the last quarter. Institutional investors own 86.93% of the company’s stock.

About Broadcom

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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Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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