Broadcom Inc. (NASDAQ:AVGO) Receives $223.54 Consensus PT from Brokerages

Shares of Broadcom Inc. (NASDAQ:AVGO - Get Free Report) have been given an average rating of "Moderate Buy" by the twenty-six ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and twenty-four have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $223.54.

Several analysts recently commented on the stock. Cantor Fitzgerald increased their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. Piper Sandler increased their price objective on Broadcom from $200.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. Hsbc Global Res upgraded Broadcom to a "hold" rating in a report on Tuesday, December 3rd. William Blair assumed coverage on Broadcom in a report on Wednesday, September 18th. They set an "outperform" rating for the company. Finally, Morgan Stanley lifted their price target on Broadcom from $233.00 to $265.00 and gave the stock an "overweight" rating in a research note on Friday, December 20th.

Insider Activity

In other Broadcom news, Director Check Kian Low sold 48,000 shares of the firm's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares in the company, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company's stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction 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. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Broadcom

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVGO. NCP Inc. boosted its holdings in Broadcom by 615.4% during the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer's stock valued at $747,000 after purchasing an additional 400 shares in the last quarter. Stoneridge Investment Partners LLC grew its holdings in shares of Broadcom by 137.4% in the 2nd quarter. Stoneridge Investment Partners LLC now owns 2,559 shares of the semiconductor manufacturer's stock worth $4,109,000 after purchasing an additional 1,481 shares during the last quarter. TMD Wealth Management LLC bought a new position in Broadcom during the 2nd quarter valued at about $270,000. Thoroughbred Financial Services LLC boosted its position in Broadcom by 20.3% in the second quarter. Thoroughbred Financial Services LLC now owns 11,442 shares of the semiconductor manufacturer's stock valued at $18,370,000 after buying an additional 1,930 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in shares of Broadcom during the second quarter worth approximately $27,647,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

Shares of AVGO stock traded down $5.00 during mid-day trading on Friday, hitting $224.31. 23,836,788 shares of the stock traded hands, compared to its average volume of 26,507,736. Broadcom has a twelve month low of $107.45 and a twelve month high of $251.88. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company's 50-day simple moving average is $196.90 and its 200-day simple moving average is $175.71. The firm has a market cap of $1.05 trillion, a price-to-earnings ratio of 194.88, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the previous year, the company earned $0.98 earnings per share. Broadcom's revenue was up 51.2% compared to the same quarter last year. As a group, equities research analysts expect that Broadcom will post 3.79 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 given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.05%. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is presently 191.87%.

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.