Mizuho Raises Broadcom (NASDAQ:AVGO) Price Target to $220.00

Broadcom (NASDAQ:AVGO - Free Report) had its target price raised by Mizuho from $190.00 to $220.00 in a research report report published on Monday, Marketbeat reports. Mizuho currently has an outperform rating on the semiconductor manufacturer's stock.

Several other brokerages also recently weighed in on AVGO. Benchmark reiterated a buy rating and set a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. William Blair initiated coverage on shares of Broadcom in a research report on Wednesday, September 18th. They issued an outperform rating on the stock. Oppenheimer dropped their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an outperform rating on the stock in a research note on Tuesday, July 16th. JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $200.00 to $210.00 and gave the company an overweight rating in a report on Friday, September 6th. Finally, Bank of America reissued a buy rating and set a $215.00 target price (up from $200.00) on shares of Broadcom in a research note on Monday, June 24th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $191.54.

Broadcom Stock Up 0.5 %

Shares of AVGO traded up $0.83 during mid-day trading on Monday, reaching $182.31. The company's stock had a trading volume of 17,176,458 shares, compared to its average volume of 30,851,479. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom has a 12-month low of $81.83 and a 12-month high of $186.42. The stock has a market cap of $848.63 billion, a PE ratio of 7.84, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The company's 50 day moving average is $163.72 and its 200 day moving average is $151.97.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same period last year, the firm posted $0.95 EPS. The company's revenue was up 47.3% on a year-over-year basis. Equities analysts anticipate that Broadcom will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a $0.53 dividend. This is a positive change from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio (DPR) is 9.12%.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Hock E. Tan sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares of the company's stock, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 20,280 shares of the company's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the transaction, the insider now owns 399,460 shares of the company's stock, valued at approximately $70,744,366. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 295,130 shares of company stock worth $50,646,622. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Broadcom

A number of hedge funds have recently bought and sold shares of AVGO. Legend Financial Advisors Inc. raised its stake in shares of Broadcom by 72.7% in the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 8 shares in the last quarter. Richardson Capital Management LLC acquired a new stake in shares of Broadcom during the 1st quarter valued at approximately $29,000. Delta Asset Management LLC TN boosted its holdings in Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock worth $32,000 after purchasing an additional 17 shares during the period. Redmont Wealth Advisors LLC bought a new stake in Broadcom during the first quarter valued at $36,000. Finally, Creekmur Asset Management LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $43,000. Institutional investors and hedge funds 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.