Broadcom (NASDAQ:AVGO) Price Target Increased to $1,500.00 by Analysts at Barclays

Broadcom (NASDAQ:AVGO) had its price target lifted by Barclays from $1,405.00 to $1,500.00 in a research note published on Wednesday morning, MarketBeat reports. Barclays currently has an overweight rating on the semiconductor manufacturer’s stock.

AVGO has been the subject of several other research reports. JPMorgan Chase & Co. reissued an overweight rating and issued a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. StockNews.com downgraded shares of Broadcom from a buy rating to a hold rating in a research report on Thursday, January 4th. The Goldman Sachs Group reissued a buy rating and issued a $1,325.00 price target on shares of Broadcom in a research report on Friday, January 19th. Evercore ISI began coverage on shares of Broadcom in a research report on Tuesday. They issued an outperform rating and a $1,620.00 price target for the company. Finally, Benchmark reaffirmed a buy rating and set a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $1,285.41.

Broadcom Stock Performance

Shares of AVGO stock opened at $1,282.63 on Wednesday. The company has a market cap of $594.40 billion, a price-to-earnings ratio of 47.54, a price-to-earnings-growth ratio of 2.67 and a beta of 1.25. Broadcom has a 52 week low of $601.29 and a 52 week high of $1,438.17. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The firm has a 50 day moving average of $1,307.00 and a 200-day moving average of $1,115.19.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter last year, the firm posted $9.83 EPS. On average, equities analysts forecast that Broadcom will post 35.95 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

Insider Buying and Selling

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the sale, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the sale, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the sale, the director now directly owns 45 shares in the company, valued at $62,465.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Broadcom

Institutional investors have recently added to or reduced their stakes in the business. Legend Financial Advisors Inc. lifted its holdings in shares of Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 8 shares in the last quarter. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Broadcom in the fourth quarter worth about $25,000. Richardson Capital Management LLC purchased a new stake in shares of Broadcom in the first quarter worth about $29,000. PSI Advisors LLC lifted its holdings in shares of Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 10 shares in the last quarter. Finally, BKM Wealth Management LLC purchased a new stake in shares of Broadcom in the fourth quarter worth about $29,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

About Broadcom

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.