Broadcom Inc. (NASDAQ:AVGO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Broadcom Inc. (NASDAQ:AVGO) have earned an average recommendation of “Moderate Buy” from the twenty-seven research firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $231.48.

A number of analysts have recently issued reports on the company. Citigroup lifted their price target on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Robert W. Baird lifted their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Mizuho dropped their price target on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday. Evercore ISI lifted their price target on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Piper Sandler lifted their price target on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th.

Broadcom Stock Up 8.6 %

Shares of NASDAQ AVGO opened at $194.96 on Monday. Broadcom has a 52 week low of $119.76 and a 52 week high of $251.88. The business has a 50-day simple moving average of $222.28 and a two-hundred day simple moving average of $193.12. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company has a market cap of $913.85 billion, a P/E ratio of 159.02, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the company earned $0.98 EPS. The firm’s revenue was up 51.2% compared to the same quarter last year. Research analysts anticipate that Broadcom will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

Insider Activity

In other news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the transaction, the director now directly owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the transaction, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock valued at $44,964,800. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Broadcom

Several hedge funds have recently made changes to their positions in AVGO. Copia Wealth Management bought a new position in shares of Broadcom during the fourth quarter valued at $194,000. IronOak Wealth LLC. bought a new position in shares of Broadcom during the fourth quarter valued at $3,035,000. Elite Financial Inc. bought a new position in shares of Broadcom during the fourth quarter valued at $231,000. TFR Capital LLC. bought a new position in shares of Broadcom during the fourth quarter valued at $2,217,000. Finally, Smith Shellnut Wilson LLC ADV lifted its holdings in shares of Broadcom by 4.2% during the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 4,585 shares of the semiconductor manufacturer’s stock valued at $1,063,000 after purchasing an additional 183 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

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.