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

Shares of Broadcom Inc. (NASDAQ:AVGO) have been assigned an average rating of “Moderate Buy” from the twenty-six analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $225.83.

AVGO has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Piper Sandler boosted their price target on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Mizuho upped their price target on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. UBS Group boosted their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Bank of America raised their target price on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th.

Broadcom Price Performance

Shares of Broadcom stock opened at $237.44 on Friday. The stock has a market cap of $1.11 trillion, a P/E ratio of 193.67, a P/E/G ratio of 2.35 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock’s fifty day moving average is $202.01 and its 200 day moving average is $178.14. Broadcom has a one year low of $112.19 and a one year high of $251.88.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. Sell-side analysts anticipate that Broadcom will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.99%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 192.50%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the transaction, the insider now owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by insiders.

Institutional Trading of Broadcom

Hedge funds and other institutional investors have recently bought and sold shares of the stock. NCP Inc. raised its holdings in Broadcom by 615.4% in the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after purchasing an additional 400 shares during the period. Stoneridge Investment Partners LLC lifted its position in shares of Broadcom by 137.4% during the 2nd quarter. Stoneridge Investment Partners LLC now owns 2,559 shares of the semiconductor manufacturer’s stock valued at $4,109,000 after buying an additional 1,481 shares in the last quarter. TMD Wealth Management LLC acquired a new stake in Broadcom in the 2nd quarter valued at $270,000. Thoroughbred Financial Services LLC increased its holdings in Broadcom by 20.3% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 11,442 shares of the semiconductor manufacturer’s stock worth $18,370,000 after acquiring an additional 1,930 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in Broadcom during the second quarter worth $27,647,000. 76.43% of the stock is owned by institutional investors and hedge funds.

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.