Broadcom Inc. (NASDAQ:AVGO) Receives Average Rating of “Moderate Buy” from Analysts

Broadcom Inc. (NASDAQ:AVGO) has been given an average rating of “Moderate Buy” by the nineteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $848.52.

Several equities analysts have recently commented on AVGO shares. TD Cowen boosted their price objective on Broadcom from $800.00 to $900.00 and gave the company a “market perform” rating in a research report on Friday, September 1st. StockNews.com upgraded Broadcom from a “hold” rating to a “buy” rating in a research report on Tuesday. Truist Financial restated a “buy” rating and issued a $995.00 price objective on shares of Broadcom in a research report on Thursday, September 21st. Susquehanna restated a “positive” rating and issued a $1,010.00 price objective on shares of Broadcom in a research report on Monday, September 18th. Finally, Robert W. Baird boosted their target price on Broadcom from $900.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 5th.

Broadcom Price Performance

NASDAQ AVGO opened at $995.71 on Tuesday. The company has a market capitalization of $410.97 billion, a PE ratio of 30.62, a price-to-earnings-growth ratio of 1.90 and a beta of 1.11. The company has a debt-to-equity ratio of 1.73, a quick ratio of 2.25 and a current ratio of 2.50. The business’s fifty day moving average is $871.36 and its 200 day moving average is $843.08. Broadcom has a fifty-two week low of $511.11 and a fifty-two week high of $999.87.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, August 31st. The semiconductor manufacturer reported $10.54 EPS for the quarter, beating the consensus estimate of $10.43 by $0.11. Broadcom had a return on equity of 74.31% and a net margin of 39.25%. The business had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.85 billion. During the same period in the previous year, the business earned $9.07 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. Sell-side analysts predict that Broadcom will post 37.83 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Thursday, September 21st were paid a dividend of $4.60 per share. The ex-dividend date was Wednesday, September 20th. This represents a $18.40 dividend on an annualized basis and a dividend yield of 1.85%. Broadcom’s dividend payout ratio is 56.58%.

Insider Activity

In other Broadcom news, Director Check Kian Low bought 11,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were purchased at an average price of $872.03 per share, with a total value of $9,592,330.00. Following the completion of the purchase, the director now owns 15,951 shares in the company, valued at approximately $13,909,750.53. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Harry L. You purchased 1,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was purchased at an average price of $858.96 per share, for a total transaction of $858,960.00. Following the completion of the acquisition, the director now owns 3,510 shares of the company’s stock, valued at $3,014,949.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Check Kian Low purchased 11,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average price of $872.03 per share, with a total value of $9,592,330.00. Following the acquisition, the director now directly owns 15,951 shares of the company’s stock, valued at approximately $13,909,750.53. The disclosure for this purchase can be found here. Insiders own 2.20% of the company’s stock.

Institutional Trading of Broadcom

A number of large investors have recently modified their holdings of AVGO. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Broadcom by 96,355.6% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 236,738,760 shares of the semiconductor manufacturer’s stock worth $205,354,303,000 after buying an additional 236,493,322 shares during the period. BlackRock Inc. lifted its holdings in Broadcom by 6.2% during the second quarter. BlackRock Inc. now owns 31,681,688 shares of the semiconductor manufacturer’s stock worth $27,481,646,000 after buying an additional 1,836,795 shares during the period. Capital World Investors lifted its holdings in Broadcom by 1.7% during the second quarter. Capital World Investors now owns 27,822,521 shares of the semiconductor manufacturer’s stock worth $24,133,853,000 after buying an additional 468,493 shares during the period. State Street Corp lifted its holdings in Broadcom by 1.9% during the second quarter. State Street Corp now owns 16,941,449 shares of the semiconductor manufacturer’s stock worth $14,695,521,000 after buying an additional 309,326 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Broadcom by 10.1% during the second quarter. Geode Capital Management LLC now owns 8,602,239 shares of the semiconductor manufacturer’s stock worth $7,443,709,000 after buying an additional 788,551 shares during the period. Hedge funds and other institutional investors own 78.81% of the company’s stock.

Broadcom Company Profile

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.