Broadcom (NASDAQ:AVGO) Price Target Raised to $260.00 at Barclays

Broadcom (NASDAQ:AVGO - Free Report) had its target price raised by Barclays from $205.00 to $260.00 in a report released on Friday,Benzinga reports. They currently have an overweight rating on the semiconductor manufacturer's stock.

Other equities research analysts have also recently issued reports about the stock. Cantor Fitzgerald upped their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a 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 note on Wednesday, December 11th. Robert W. Baird raised their price objective on shares of Broadcom from $195.00 to $210.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Morgan Stanley upped their target price on Broadcom from $233.00 to $265.00 and gave the stock an "overweight" rating in a research report on Friday, December 20th. Finally, Susquehanna boosted their price objective on Broadcom from $200.00 to $225.00 and gave the stock a "positive" rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and a consensus price target of $225.83.

Broadcom Stock Performance

AVGO stock traded up $8.03 during trading on Friday, hitting $237.44. 31,036,592 shares of the company's stock traded hands, compared to its average volume of 41,590,264. The stock has a fifty day moving average price of $202.01 and a two-hundred day moving average price of $178.14. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom has a 52 week low of $112.19 and a 52 week high of $251.88. The stock has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 193.67, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion during 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 company's quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 earnings per share. As a group, equities analysts anticipate that Broadcom will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

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

Insider Activity

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now directly owns 46,400 shares of the company's stock, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the sale, the chief executive officer now directly owns 842,836 shares of the company's stock, valued at approximately $202,246,926.56. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,278 shares of company stock valued at $44,964,800. Insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Castleview Partners LLC lifted its holdings in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after acquiring an additional 134 shares during the period. Pin Oak Investment Advisors Inc. lifted its stake in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 135 shares during the period. JDM Financial Group LLC boosted its holdings in Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock valued at $32,000 after purchasing an additional 172 shares in the last quarter. Retirement Wealth Solutions LLC bought a new stake in Broadcom in the fourth quarter valued at $37,000. Finally, Tsfg LLC raised its stake in Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock worth $38,000 after acquiring an additional 204 shares in the last quarter. Institutional investors and hedge funds own 76.43% 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.