Broadcom (NASDAQ:AVGO) Stock Price Expected to Rise, Mizuho Analyst Says

Broadcom (NASDAQ:AVGO - Free Report) had its price objective increased by Mizuho from $245.00 to $260.00 in a research report sent to investors on Friday morning,Benzinga reports. Mizuho currently has an outperform rating on the semiconductor manufacturer's stock.

Several other equities research analysts have also issued reports on the company. Hsbc Global Res upgraded Broadcom to a "hold" rating in a report on Tuesday, December 3rd. Barclays increased their target price on shares of Broadcom from $200.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, December 16th. Benchmark reaffirmed a "buy" rating and issued a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Jefferies Financial Group raised their price objective on Broadcom from $205.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $240.00 target price on shares of Broadcom in a research report on Wednesday, December 11th. Three research 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, Broadcom currently has an average rating of "Moderate Buy" and a consensus price target of $223.54.

Broadcom Trading Down 2.2 %

Shares of NASDAQ:AVGO traded down $5.00 during midday trading on Friday, reaching $224.31. The company had a trading volume of 23,836,788 shares, compared to its average volume of 26,507,736. The company has a fifty day simple moving average of $195.79 and a two-hundred day simple moving average of $175.31. 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 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 has a 1-year low of $107.45 and a 1-year high of $251.88.

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

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction on 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 trade represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the firm's 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 directly owns 696,730 shares in the company, valued at $161,627,425.40. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 in the last three months. Insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Broadcom

A number of large investors have recently added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. bought a new stake in Broadcom in the 2nd quarter valued at approximately $128,000. Mark Sheptoff Financial Planning LLC bought a new position in Broadcom in the second quarter valued at $136,000. WPWealth LLP acquired a new stake in Broadcom in the 2nd quarter valued at $204,000. Inspire Advisors LLC bought a new stake in Broadcom during the 2nd quarter worth about $211,000. Finally, RiverGlades Family Offices LLC acquired a new position in shares of Broadcom during the 2nd quarter worth about $210,000. 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.