Broadcom Inc (NASDAQ:AVGO) Receives Average Recommendation of “Buy” from Analysts

Shares of Broadcom Inc (NASDAQ:AVGO) have earned a consensus rating of “Buy” from the thirty-nine brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and twenty-eight have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $312.13.

A number of research firms recently weighed in on AVGO. Cowen set a $285.00 target price on Broadcom and gave the stock a “hold” rating in a research report on Friday, September 13th. Oppenheimer set a $315.00 target price on Broadcom and gave the stock a “buy” rating in a research report on Friday, September 13th. Cascend Securities boosted their target price on Broadcom from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Daiwa Capital Markets downgraded Broadcom from a “buy” rating to a “neutral” rating in a research report on Thursday, August 15th. Finally, Susquehanna Bancshares boosted their target price on Broadcom from $315.00 to $345.00 and gave the stock a “positive” rating in a research report on Friday, September 13th.

NASDAQ:AVGO traded up $7.00 during mid-day trading on Friday, reaching $281.43. The stock had a trading volume of 2,590,837 shares, compared to its average volume of 2,739,728. The firm has a 50 day moving average price of $281.54 and a two-hundred day moving average price of $287.72. The stock has a market capitalization of $109.02 billion, a P/E ratio of 14.95, a P/E/G ratio of 1.37 and a beta of 0.89. Broadcom has a one year low of $208.23 and a one year high of $323.20. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.18 and a current ratio of 1.32.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 12th. The semiconductor manufacturer reported $3.99 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.10 by ($0.11). The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.52 billion. Broadcom had a return on equity of 34.10% and a net margin of 13.44%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.98 EPS. Research analysts forecast that Broadcom will post 16.97 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 23rd were issued a $2.65 dividend. This represents a $10.60 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend was Friday, September 20th. Broadcom’s dividend payout ratio (DPR) is 56.29%.

In other Broadcom news, CEO Hock E. Tan sold 20,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $288.71, for a total value of $5,774,200.00. Insiders sold 60,000 shares of company stock worth $17,026,600 over the last three months. Corporate insiders own 3.30% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its holdings in Broadcom by 17.8% in the second quarter. Janus Henderson Group PLC now owns 978,371 shares of the semiconductor manufacturer’s stock worth $281,577,000 after acquiring an additional 147,769 shares in the last quarter. Endurance Wealth Management Inc. lifted its holdings in shares of Broadcom by 8.4% during the second quarter. Endurance Wealth Management Inc. now owns 7,575 shares of the semiconductor manufacturer’s stock valued at $2,181,000 after purchasing an additional 585 shares in the last quarter. Parsons Capital Management Inc. RI lifted its holdings in shares of Broadcom by 13.2% during the second quarter. Parsons Capital Management Inc. RI now owns 1,646 shares of the semiconductor manufacturer’s stock valued at $474,000 after purchasing an additional 192 shares in the last quarter. 9258 Wealth Management LLC lifted its holdings in shares of Broadcom by 5.8% during the second quarter. 9258 Wealth Management LLC now owns 1,558 shares of the semiconductor manufacturer’s stock valued at $449,000 after purchasing an additional 85 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. lifted its holdings in shares of Broadcom by 63.0% during the second quarter. Cookson Peirce & Co. Inc. now owns 60,830 shares of the semiconductor manufacturer’s stock valued at $17,511,000 after purchasing an additional 23,514 shares in the last quarter. 84.86% of the stock is currently owned by institutional investors and hedge funds.

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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