Mizuho Cuts Broadcom (NASDAQ:AVGO) Price Target to $250.00

Broadcom (NASDAQ:AVGO - Free Report) had its price target lowered by Mizuho from $260.00 to $250.00 in a research note released on Friday, Marketbeat reports. Mizuho currently has an outperform rating on the semiconductor manufacturer's stock.

Other equities research analysts have also issued reports about the stock. Evercore ISI upped their price target on shares of Broadcom from $201.00 to $250.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Hsbc Global Res raised shares of Broadcom to a "hold" rating in a report on Tuesday, December 3rd. Barclays increased their price target on shares of Broadcom from $205.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Bank of America upped their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Finally, Jefferies Financial Group raised their target price on Broadcom from $205.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $231.48.

Broadcom Stock Down 5.4 %

Shares of AVGO stock traded down $10.51 during trading hours on Friday, reaching $184.45. 44,009,821 shares of the company's stock were exchanged, compared to its average volume of 29,502,293. The stock has a market cap of $867.27 billion, a PE ratio of 150.45, a PEG ratio of 2.29 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock's fifty day moving average price is $222.28 and its two-hundred day moving average price is $193.12. Broadcom has a 1 year low of $119.76 and a 1 year high of $251.88.

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Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly 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. The business had revenue of $14.05 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter last year, the company posted $0.98 earnings per share. Research analysts predict that Broadcom will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 1.28%. Broadcom's dividend payout ratio (DPR) is 113.46%.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 in the last 90 days. Insiders own 2.00% of the company's stock.

Institutional Trading of Broadcom

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capstone Triton Financial Group LLC grew its stake in shares of Broadcom by 1.5% in the fourth quarter. Capstone Triton Financial Group LLC now owns 5,873 shares of the semiconductor manufacturer's stock valued at $1,362,000 after buying an additional 87 shares in the last quarter. Mattson Financial Services LLC grew its position in Broadcom by 1,110.8% in the 4th quarter. Mattson Financial Services LLC now owns 17,460 shares of the semiconductor manufacturer's stock valued at $4,048,000 after acquiring an additional 16,018 shares in the last quarter. Copia Wealth Management purchased a new stake in Broadcom during the fourth quarter worth about $194,000. IronOak Wealth LLC. acquired a new stake in shares of Broadcom during the fourth quarter worth about $3,035,000. Finally, Elite Financial Inc. purchased a new position in shares of Broadcom in the fourth quarter valued at approximately $231,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

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.