Equities analysts predict that Broadcom Inc (NASDAQ:AVGO) will announce sales of $5.74 billion for the current fiscal quarter, Zacks reports. Eleven analysts have issued estimates for Broadcom’s earnings. The lowest sales estimate is $4.85 billion and the highest is $6.13 billion. Broadcom posted sales of $5.33 billion during the same quarter last year, which would indicate a positive year over year growth rate of 7.7%. The business is scheduled to issue its next earnings report after the market closes on Thursday, March 14th.
On average, analysts expect that Broadcom will report full-year sales of $24.41 billion for the current year, with estimates ranging from $23.68 billion to $24.61 billion. For the next year, analysts forecast that the company will post sales of $25.87 billion, with estimates ranging from $25.25 billion to $27.66 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Broadcom.
Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.58 by $0.27. The firm had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.40 billion. Broadcom had a net margin of 58.80% and a return on equity of 29.03%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.59 EPS.
AVGO has been the subject of several research analyst reports. Deutsche Bank dropped their target price on shares of Broadcom from $310.00 to $300.00 and set a “buy” rating for the company in a research report on Monday, December 3rd. Credit Suisse Group initiated coverage on shares of Broadcom in a research report on Friday, November 16th. They issued an “outperform” rating and a $300.00 target price for the company. ValuEngine raised shares of Broadcom from a “sell” rating to a “hold” rating in a research report on Friday, November 16th. UBS Group dropped their target price on shares of Broadcom from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, December 7th. Finally, BidaskClub raised shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Thursday, November 8th. Nine research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $289.42.
Shares of AVGO traded down $2.48 during midday trading on Thursday, hitting $280.94. The company had a trading volume of 1,325,355 shares, compared to its average volume of 2,943,310. The company has a market capitalization of $114.71 billion, a P/E ratio of 14.92, a PEG ratio of 1.27 and a beta of 0.72. Broadcom has a 52 week low of $197.46 and a 52 week high of $286.63. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.41 and a current ratio of 3.90.
In other Broadcom news, Director Lewis C. Eggebrecht sold 2,000 shares of the business’s stock in a transaction dated Friday, December 14th. The shares were sold at an average price of $260.81, for a total transaction of $521,620.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas H. Krause sold 22,500 shares of the business’s stock in a transaction dated Thursday, December 13th. The shares were sold at an average price of $257.08, for a total transaction of $5,784,300.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,723 shares of company stock valued at $20,347,374. Insiders own 3.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Accurate Investment Solutions Inc. acquired a new position in Broadcom during the 4th quarter valued at about $25,000. Ruggie Capital Group acquired a new position in Broadcom during the 4th quarter valued at about $25,000. AlphaOne Investment Services LLC acquired a new position in Broadcom during the 4th quarter valued at about $25,000. Advisors Preferred LLC acquired a new position in Broadcom during the 4th quarter valued at about $32,000. Finally, Karp Capital Management Corp acquired a new position in Broadcom during the 4th quarter valued at about $36,000. 85.37% of the stock is owned by hedge funds and other institutional investors.
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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