Barclays Forecasts Strong Price Appreciation for Broadcom (NASDAQ:AVGO) Stock

Broadcom (NASDAQ:AVGO - Free Report) had its price objective lifted by Barclays from $205.00 to $260.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the semiconductor manufacturer's stock.

A number of other analysts have also commented on the stock. Susquehanna boosted their price target on shares of Broadcom from $200.00 to $225.00 and gave the company a "positive" rating in a research note on Friday, December 13th. Cantor Fitzgerald boosted their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $240.00 price target on shares of Broadcom in a research report on Wednesday, December 11th. Piper Sandler increased their price objective on Broadcom from $200.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Broadcom from $190.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $225.83.

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Broadcom Trading Up 3.3 %

Shares of NASDAQ:AVGO traded up $7.57 during midday trading on Friday, reaching $236.98. The company's stock had a trading volume of 21,109,726 shares, compared to its average volume of 24,246,137. Broadcom has a fifty-two week low of $112.19 and a fifty-two week high of $251.88. 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 firm has a 50 day moving average price of $200.02 and a two-hundred day moving average price of $177.11. The firm has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 193.35, a PEG ratio of 2.35 and a beta of 1.03.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business's quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 earnings per share. As a group, analysts forecast that Broadcom will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. This is a positive change from Broadcom's previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Monday, December 23rd. Broadcom's dividend payout ratio (DPR) is presently 192.50%.

Insider Activity at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the transaction, the director now owns 113,050 shares of the company's stock, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the company's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Broadcom

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dakota Community Bank & Trust NA grew its holdings in shares of Broadcom by 2.7% during the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer's stock worth $391,000 after purchasing an additional 45 shares in the last quarter. Defined Wealth Management LLC lifted its holdings in shares of Broadcom by 0.4% during the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer's stock worth $2,947,000 after acquiring an additional 47 shares during the last quarter. Integrated Investment Consultants LLC grew its position in Broadcom by 0.9% in the fourth quarter. Integrated Investment Consultants LLC now owns 5,392 shares of the semiconductor manufacturer's stock worth $1,250,000 after acquiring an additional 47 shares in the last quarter. Kades & Cheifetz LLC increased its stake in Broadcom by 0.8% in the fourth quarter. Kades & Cheifetz LLC now owns 6,623 shares of the semiconductor manufacturer's stock valued at $1,536,000 after acquiring an additional 51 shares during the last quarter. Finally, Sivia Capital Partners LLC raised its position in Broadcom by 0.5% during the fourth quarter. Sivia Capital Partners LLC now owns 9,584 shares of the semiconductor manufacturer's stock valued at $2,222,000 after purchasing an additional 52 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

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.