Broadcom (NASDAQ:AVGO) Price Target Raised to $200.00 at UBS Group

Broadcom (NASDAQ:AVGO - Free Report) had its price target lifted by UBS Group from $170.00 to $200.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a buy rating on the semiconductor manufacturer's stock.

Several other research firms have also recently weighed in on AVGO. Morgan Stanley boosted their price target on shares of Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. TD Cowen raised Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. Oppenheimer cut their price target on shares of Broadcom from $2,000.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, July 16th. Cantor Fitzgerald raised their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group boosted their target price on shares of Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $192.79.

Broadcom Stock Down 0.2 %

AVGO traded down $0.37 during trading on Monday, hitting $168.55. 13,403,922 shares of the company's stock were exchanged, compared to its average volume of 30,012,057. Broadcom has a fifty-two week low of $87.12 and a fifty-two week high of $186.42. The stock has a market cap of $787.23 billion, a P/E ratio of 146.44, a PEG ratio of 2.73 and a beta of 1.17. The business's 50 day moving average is $169.12 and its two-hundred day moving average is $156.30. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

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

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.26%. Broadcom's payout ratio is presently 184.19%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the transaction, the insider now directly owns 399,460 shares of the company's stock, valued at approximately $70,744,366. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the business's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares of the company's stock, valued at approximately $126,754,425.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the sale, the insider now directly owns 399,460 shares in the company, valued at approximately $70,744,366. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 over the last 90 days. Corporate insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Broadcom

A number of institutional investors and hedge funds have recently made changes to their positions in AVGO. Castleview Partners LLC increased its position in shares of Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after acquiring an additional 134 shares in the last quarter. Delta Asset Management LLC TN boosted its stake in Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock valued at $32,000 after purchasing an additional 17 shares during the last quarter. Tsfg LLC raised its stake in shares of Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock worth $38,000 after purchasing an additional 204 shares during the last quarter. Krane Funds Advisors LLC bought a new position in shares of Broadcom during the third quarter valued at $42,000. Finally, Highline Wealth Partners LLC purchased a new stake in shares of Broadcom during the third quarter valued at $45,000. 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.