Broadcom Inc. (NASDAQ:AVGO) has been assigned an average rating of “Buy” from the thirty brokerages that are covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $549.52.
AVGO has been the topic of several research analyst reports. Wells Fargo & Company boosted their price target on shares of Broadcom from $450.00 to $475.00 and gave the company an “equal weight” rating in a research report on Friday, June 4th. KeyCorp upped their target price on shares of Broadcom from $565.00 to $575.00 and gave the stock an “overweight” rating in a research note on Friday, September 3rd. Susquehanna Bancshares increased their price objective on shares of Broadcom from $580.00 to $590.00 and gave the company a “positive” rating in a research report on Friday, September 3rd. Summit Insights cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Friday, September 3rd. Finally, Cowen increased their price objective on shares of Broadcom from $478.00 to $500.00 and gave the stock a “market perform” rating in a research note on Friday, September 3rd.
NASDAQ:AVGO traded down $11.82 during trading hours on Thursday, hitting $493.03. The stock had a trading volume of 50,942 shares, compared to its average volume of 1,843,760. Broadcom has a one year low of $344.42 and a one year high of $510.70. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.41 and a quick ratio of 2.23. The firm has a market capitalization of $202.94 billion, a price-to-earnings ratio of 37.45, a P/E/G ratio of 1.38 and a beta of 0.93. The company has a 50 day simple moving average of $489.24 and a two-hundred day simple moving average of $474.08.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Wednesday, September 22nd will be issued a dividend of $3.60 per share. This represents a $14.40 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Tuesday, September 21st. Broadcom’s dividend payout ratio is presently 78.05%.
In other news, COO Charlie B. Kawwas sold 3,000 shares of the stock in a transaction on Friday, September 10th. The shares were sold at an average price of $500.83, for a total value of $1,502,490.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 4,811 shares of the firm’s stock in a transaction dated Friday, September 10th. The stock was sold at an average price of $499.12, for a total transaction of $2,401,266.32. The disclosure for this sale can be found here. Insiders have sold 22,121 shares of company stock valued at $11,104,158 over the last quarter. Company insiders own 2.40% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Chilton Investment Co. LLC lifted its position in Broadcom by 2.9% in the 2nd quarter. Chilton Investment Co. LLC now owns 772 shares of the semiconductor manufacturer’s stock valued at $368,000 after acquiring an additional 22 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in shares of Broadcom by 1.1% in the second quarter. Moneta Group Investment Advisors LLC now owns 2,116 shares of the semiconductor manufacturer’s stock worth $1,009,000 after buying an additional 22 shares in the last quarter. Fiduciary Group LLC increased its holdings in Broadcom by 3.7% during the second quarter. Fiduciary Group LLC now owns 637 shares of the semiconductor manufacturer’s stock valued at $311,000 after buying an additional 23 shares during the last quarter. 9258 Wealth Management LLC grew its stake in Broadcom by 0.8% during the first quarter. 9258 Wealth Management LLC now owns 2,957 shares of the semiconductor manufacturer’s stock valued at $1,371,000 after acquiring an additional 24 shares in the last quarter. Finally, Savant Capital LLC lifted its holdings in Broadcom by 1.9% during the 2nd quarter. Savant Capital LLC now owns 1,260 shares of the semiconductor manufacturer’s stock valued at $601,000 after buying an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.
Broadcom, Inc is a global technology company, which designs, develops and supplies semiconductor and infrastructure software solutions. It operates through the following segments: Semiconductor Solutions and Infrastructure Software. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise and embedded networking applications.
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