Broadcom Inc. (NASDAQ:AVGO) Given Consensus Recommendation of "Buy" by Analysts

Shares of Broadcom Inc. (NASDAQ:AVGO - Get Free Report) have earned a consensus recommendation of "Buy" from the twenty-six ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $191.54.

AVGO has been the topic of a number of recent research reports. StockNews.com cut Broadcom from a "buy" rating to a "hold" rating in a report on Tuesday, July 23rd. Rosenblatt Securities decreased their target price on Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, September 6th. Truist Financial lifted their target price on Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. The Goldman Sachs Group lifted their target price on Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. lifted their price target on Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, September 6th.

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 25,200 shares of the business's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the transaction, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Hock E. Tan sold 150,000 shares of the business's stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the transaction, the chief executive officer now owns 1,181,910 shares of the company's stock, valued at approximately $204,399,515.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the business's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares of the company's stock, valued at $126,754,425.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock valued at $53,540,590 over the last quarter. Insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Broadcom

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Delta Asset Management LLC TN increased its stake in Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock valued at $32,000 after acquiring an additional 17 shares during the period. Redmont Wealth Advisors LLC bought a new position in Broadcom during the first quarter valued at about $36,000. Clear Point Advisors Inc. increased its stake in Broadcom by 310.0% during the first quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer's stock valued at $54,000 after acquiring an additional 31 shares during the period. Ruedi Wealth Management Inc. increased its stake in Broadcom by 104.0% during the first quarter. Ruedi Wealth Management Inc. now owns 51 shares of the semiconductor manufacturer's stock valued at $68,000 after acquiring an additional 26 shares during the period. Finally, Indiana Trust & Investment Management CO increased its stake in Broadcom by 39.5% during the second quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer's stock valued at $85,000 after acquiring an additional 15 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

Shares of AVGO traded up $7.22 during midday trading on Tuesday, reaching $179.24. The stock had a trading volume of 23,666,414 shares, compared to its average volume of 30,224,438. Broadcom has a 52 week low of $82.72 and a 52 week high of $186.42. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm's 50 day moving average price is $168.53 and its 200-day moving average price is $155.27. The company has a market capitalization of $834.34 billion, a P/E ratio of 7.71, a P/E/G ratio of 2.99 and a beta of 1.17.

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

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.18%. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is currently 9.12%.

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.