Broadcom (NASDAQ:AVGO) Price Target Increased to $180.00 by Analysts at Morgan Stanley

Broadcom (NASDAQ:AVGO) had its price target boosted by Morgan Stanley from $176.00 to $180.00 in a research report report published on Friday, Benzinga reports. They currently have an overweight rating on the semiconductor manufacturer’s stock.

Several other research firms have also issued reports on AVGO. StockNews.com lowered Broadcom from a buy rating to a hold rating in a research note on Tuesday, July 23rd. Jefferies Financial Group lifted their target price on Broadcom from $155.00 to $205.00 and gave the company a buy rating in a report on Thursday, June 13th. Melius Research began coverage on Broadcom in a research report on Monday, June 3rd. They issued a buy rating and a $185.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on Broadcom from $170.00 to $200.00 and gave the stock an overweight rating in a research report on Thursday, June 13th. Finally, TD Cowen raised their target price on shares of Broadcom from $175.00 to $210.00 and gave the company a buy rating in a report on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $189.23.

Broadcom Stock Up 2.8 %

AVGO opened at $140.82 on Friday. The company has a 50-day moving average price of $189.01 and a 200 day moving average price of $156.19. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The company has a market cap of $655.50 billion, a PE ratio of 6.06, a price-to-earnings-growth ratio of 2.41 and a beta of 1.16. Broadcom has a twelve month low of $79.51 and a twelve month high of $185.16.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 EPS. Sell-side analysts expect that Broadcom will post 3.75 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 19th will be issued a $0.53 dividend. The ex-dividend date is Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.51%. Broadcom’s dividend payout ratio is currently 9.12%.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the transaction, the chief executive officer now owns 138,191 shares in the company, valued at $235,746,936.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Justine Page sold 2,540 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the transaction, the director now owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 7,502 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the sale, the chief executive officer now directly owns 138,191 shares in the company, valued at approximately $235,746,936.45. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Legend Financial Advisors Inc. raised its stake in Broadcom by 72.7% during 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 during the last quarter. Richardson Capital Management LLC acquired a new stake in Broadcom in the 1st quarter worth $29,000. Delta Asset Management LLC TN increased its holdings in shares of Broadcom by 242.9% during the 1st 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 acquired a new position in shares of Broadcom during the first quarter valued at about $36,000. Finally, Ulland Investment Advisors LLC bought a new stake in shares of Broadcom in the first quarter valued at about $37,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

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.