Brokerages Set Broadcom Inc. (NASDAQ:AVGO) PT at $1,285.41

Broadcom Inc. (NASDAQ:AVGO) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and twenty have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $1,285.41.

A number of analysts have weighed in on AVGO shares. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and raised their target price for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research report on Monday, April 8th. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a research report on Friday, January 19th. Susquehanna boosted their price target on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the transaction, the chief executive officer now owns 168,096 shares in the company, valued at $220,583,976. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,920 shares of company stock worth $40,306,667. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AVGO. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Broadcom by 14.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 632,667 shares of the semiconductor manufacturer’s stock valued at $525,481,000 after purchasing an additional 79,275 shares during the last quarter. NBT Bank N A NY raised its holdings in Broadcom by 337.6% during the 3rd quarter. NBT Bank N A NY now owns 1,199 shares of the semiconductor manufacturer’s stock valued at $996,000 after acquiring an additional 925 shares during the period. River Street Advisors LLC lifted its position in shares of Broadcom by 15.2% during the third quarter. River Street Advisors LLC now owns 1,708 shares of the semiconductor manufacturer’s stock worth $1,419,000 after acquiring an additional 226 shares in the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of Broadcom by 18.8% in the third quarter. Chicago Partners Investment Group LLC now owns 1,288 shares of the semiconductor manufacturer’s stock worth $1,111,000 after acquiring an additional 204 shares during the period. Finally, Advisor Partners II LLC grew its position in shares of Broadcom by 5.9% in the third quarter. Advisor Partners II LLC now owns 19,616 shares of the semiconductor manufacturer’s stock valued at $16,293,000 after purchasing an additional 1,101 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Broadcom stock opened at $1,305.67 on Tuesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. Broadcom has a 52 week low of $617.99 and a 52 week high of $1,438.17. The stock has a market capitalization of $605.07 billion, a P/E ratio of 48.39, a price-to-earnings-growth ratio of 2.60 and a beta of 1.25. The stock has a fifty day moving average of $1,309.54 and a 200-day moving average of $1,158.92.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the previous year, the firm earned $9.83 earnings per share. The business’s quarterly revenue was up 34.2% on a year-over-year basis. On average, sell-side analysts expect that Broadcom will post 35.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.61%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

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.