Broadcom Inc. (NASDAQ:AVGO) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Broadcom Inc. (NASDAQ:AVGOGet Free Report) have received an average recommendation of “Moderate Buy” from the thirty-two research firms that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, twenty-seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $454.5517.

A number of equities research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Broadcom from $510.00 to $545.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Wall Street Zen downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Saturday. Benchmark reiterated a “buy” rating and set a $485.00 price target on shares of Broadcom in a research note on Thursday, March 5th. Mizuho reiterated an “outperform” rating and set a $480.00 price target on shares of Broadcom in a research note on Thursday, April 16th. Finally, TD Cowen reiterated a “buy” rating and set a $500.00 price target (up from $405.00) on shares of Broadcom in a research note on Friday, May 15th.

View Our Latest Stock Report on Broadcom

Broadcom Stock Performance

Shares of AVGO stock opened at $446.77 on Wednesday. Broadcom has a 1 year low of $234.90 and a 1 year high of $448.90. The firm’s fifty day simple moving average is $383.52 and its 200 day simple moving average is $358.56. The firm has a market capitalization of $2.12 trillion, a P/E ratio of 87.26, a price-to-earnings-growth ratio of 0.92 and a beta of 1.41. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80.

Broadcom (NASDAQ:AVGOGet Free Report) last announced its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The business had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. During the same quarter in the previous year, the firm posted $1.60 earnings per share. Broadcom’s revenue was up 29.5% compared to the same quarter last year. As a group, sell-side analysts predict that Broadcom will post 9.91 EPS for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were paid a dividend of $0.65 per share. The ex-dividend date was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. Broadcom’s payout ratio is currently 50.78%.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

Insider Buying and Selling

In other news, Director Justine Page sold 2,018 shares of the business’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total value of $712,354.00. Following the sale, the director owned 18,164 shares in the company, valued at approximately $6,411,892. The trade was a 10.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider S. Ram Velaga sold 8,000 shares of the business’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the completion of the sale, the insider owned 57,932 shares in the company, valued at $21,464,964.64. This represents a 12.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 324,282 shares of company stock worth $106,425,249 in the last three months. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Broadcom

Several institutional investors and hedge funds have recently made changes to their positions in AVGO. ROSS JOHNSON & Associates LLC lifted its position in Broadcom by 1,320.0% during the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 66 shares in the last quarter. SWAN Capital LLC lifted its position in Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 55 shares in the last quarter. Networth Advisors LLC lifted its position in Broadcom by 546.2% during the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 71 shares in the last quarter. Miller Global Investments LLC acquired a new position in Broadcom during the 4th quarter worth about $31,000. Finally, Nvest Wealth Strategies Inc. acquired a new position in Broadcom during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Company Profile

(Get Free Report)

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

See Also

Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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