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

Broadcom Inc. (NASDAQ:AVGO) has received a consensus rating of “Moderate Buy” from the twenty-two ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and twenty have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $1,285.41.

AVGO has been the topic of several recent research reports. Cantor Fitzgerald upped their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Barclays raised their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a research note on Thursday, March 21st. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Finally, Rosenblatt Securities restated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a report on Thursday, March 21st.

Insider Transactions at Broadcom

In other news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction on 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 completion of the sale, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction on 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 completion of the transaction, the director now owns 45 shares in the company, valued at $62,465.85. The disclosure for this sale can be found here. In the last three months, insiders sold 29,920 shares of company stock valued at $40,306,667. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AVGO. Horizon Family Wealth Inc. boosted its holdings in Broadcom by 1.3% during the fourth quarter. Horizon Family Wealth Inc. now owns 640 shares of the semiconductor manufacturer’s stock worth $715,000 after buying an additional 8 shares in the last quarter. Tucker Asset Management LLC lifted its stake in shares of Broadcom by 12.5% during the fourth quarter. Tucker Asset Management LLC now owns 72 shares of the semiconductor manufacturer’s stock valued at $80,000 after buying an additional 8 shares during the period. Buckley Wealth Management LLC lifted its stake in shares of Broadcom by 0.7% during the first quarter. Buckley Wealth Management LLC now owns 1,153 shares of the semiconductor manufacturer’s stock valued at $1,529,000 after buying an additional 8 shares during the period. Legend Financial Advisors Inc. lifted its stake in shares of Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 8 shares during the period. Finally, BetterWealth LLC increased its position in Broadcom by 1.5% during the fourth quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock worth $672,000 after purchasing an additional 9 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

NASDAQ AVGO opened at $1,258.99 on Friday. The firm’s fifty day simple moving average is $1,306.69 and its two-hundred day simple moving average is $1,116.18. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. Broadcom has a 12-month low of $601.29 and a 12-month high of $1,438.17. The firm has a market capitalization of $583.44 billion, a P/E ratio of 46.66, a P/E/G ratio of 2.71 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same period in the previous year, the company earned $9.83 earnings per share. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. Analysts forecast that Broadcom will post 35.88 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.67%. Broadcom’s dividend payout ratio 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.