Broadcom (NASDAQ:AVGO) Given New $275.00 Price Target at KeyCorp

Broadcom (NASDAQ:AVGO - Free Report) had its price target increased by KeyCorp from $260.00 to $275.00 in a report released on Friday,Benzinga reports. They currently have an overweight rating on the semiconductor manufacturer's stock.

A number of other brokerages have also commented on AVGO. Citigroup boosted their price objective on Broadcom from $175.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Rosenblatt Securities reissued a "buy" rating and set a $250.00 price objective on shares of Broadcom in a report on Friday. Mizuho boosted their price objective on Broadcom from $245.00 to $260.00 and gave the stock an "outperform" rating in a report on Friday, January 10th. JPMorgan Chase & Co. boosted their price objective on Broadcom from $210.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Finally, Jefferies Financial Group boosted their price objective on Broadcom from $205.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $231.48.

Broadcom Trading Up 8.6 %

Shares of NASDAQ:AVGO traded up $15.51 during midday trading on Friday, reaching $194.96. The company's stock had a trading volume of 74,457,084 shares, compared to its average volume of 29,443,255. The firm has a market capitalization of $913.85 billion, a price-to-earnings ratio of 159.02, a PEG ratio of 2.29 and a beta of 1.01. 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 $222.28 and a two-hundred day moving average price of $193.12. Broadcom has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.

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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 (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm's revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. As a group, analysts forecast that Broadcom will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.21%. Broadcom's payout ratio is 191.87%.

Insiders Place Their Bets

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. This represents a 5.43 % 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 worth $44,964,800 over the last 90 days. Corporate insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On Broadcom

Several institutional investors have recently made changes to their positions in AVGO. Central Pacific Bank Trust Division increased its holdings in shares of Broadcom by 21.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer's stock worth $4,858,000 after purchasing an additional 3,707 shares during the period. Wolff Financial Management LLC bought a new position in shares of Broadcom in the fourth quarter worth $244,000. Strait & Sound Wealth Management LLC increased its holdings in shares of Broadcom by 829.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer's stock worth $1,371,000 after purchasing an additional 7,095 shares during the period. Motive Wealth Advisors increased its holdings in shares of Broadcom by 1,076.5% in the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock worth $1,066,000 after purchasing an additional 4,209 shares during the period. Finally, Tidal Investments LLC increased its holdings in shares of Broadcom by 969.3% in the third quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer's stock worth $66,696,000 after purchasing an additional 350,485 shares during the period. Hedge funds and other institutional investors 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.