Broadcom (NASDAQ:AVGO) Now Covered by Analysts at Evercore ISI

Evercore ISI started coverage on shares of Broadcom (NASDAQ:AVGO) in a report issued on Tuesday morning, Marketbeat.com reports. The firm issued an outperform rating and a $1,620.00 price objective on the semiconductor manufacturer’s stock.

AVGO has been the subject of a number of other reports. Benchmark reiterated a buy rating and issued a $1,720.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Susquehanna lifted their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a positive rating in a research note on Wednesday, February 28th. Barclays started coverage on shares of Broadcom in a research note on Wednesday, March 20th. They set an overweight rating and a $1,405.00 price objective for the company. The Goldman Sachs Group restated a buy rating and set a $1,325.00 price objective on shares of Broadcom in a research note on Friday, January 19th. Finally, Oppenheimer restated an outperform rating and set a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, Broadcom has a consensus rating of Moderate Buy and a consensus price target of $1,285.41.

Broadcom Stock Down 1.8 %

NASDAQ:AVGO opened at $1,258.99 on Tuesday. The company’s 50-day simple moving average is $1,306.69 and its 200-day simple moving average is $1,116.18. The stock 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. 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 fifty-two week low of $601.29 and a fifty-two week high of $1,438.17.

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

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.67%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is presently 77.84%.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 5,000 shares of the business’s 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 completion of the sale, the insider now owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Broadcom

A number of large investors have recently modified their holdings of the business. Oxinas Partners Wealth Management LLC grew its holdings in shares of Broadcom by 50.1% during the first quarter. Oxinas Partners Wealth Management LLC now owns 1,036 shares of the semiconductor manufacturer’s stock worth $1,373,000 after buying an additional 346 shares in the last quarter. Naviter Wealth LLC boosted its position in shares of Broadcom by 10.5% during the 1st quarter. Naviter Wealth LLC now owns 2,809 shares of the semiconductor manufacturer’s stock valued at $3,723,000 after acquiring an additional 266 shares during the last quarter. Verum Partners LLC boosted its position in shares of Broadcom by 3.7% during the 1st quarter. Verum Partners LLC now owns 738 shares of the semiconductor manufacturer’s stock valued at $978,000 after acquiring an additional 26 shares during the last quarter. Financial Security Advisor Inc. boosted its position in shares of Broadcom by 3.0% during the 1st quarter. Financial Security Advisor Inc. now owns 609 shares of the semiconductor manufacturer’s stock valued at $810,000 after acquiring an additional 18 shares during the last quarter. Finally, State of Michigan Retirement System boosted its position in shares of Broadcom by 3.9% during the 1st quarter. State of Michigan Retirement System now owns 174,466 shares of the semiconductor manufacturer’s stock valued at $231,239,000 after acquiring an additional 6,600 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

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.