Brokerages Set Broadcom Inc. (NASDAQ:AVGO) Price Target at $231.48

Shares of Broadcom Inc. (NASDAQ:AVGO) have received a consensus rating of “Moderate Buy” from the twenty-seven analysts that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and twenty-five have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $231.48.

A number of analysts recently weighed in on the stock. Robert W. Baird increased their price target on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Bank of America increased their target price on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Truist Financial raised their price objective on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Finally, Citigroup boosted their target price on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th.

Insider Activity at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now directly owns 696,730 shares in the company, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 785,976 shares of company stock worth $147,912,102. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Broadcom

Several institutional investors and hedge funds have recently made changes to their positions in the company. KFA Private Wealth Group LLC grew its holdings in Broadcom by 2.5% in the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock valued at $407,000 after buying an additional 42 shares in the last quarter. Dakota Community Bank & Trust NA grew its stake in shares of Broadcom by 2.7% in the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock valued at $391,000 after acquiring an additional 45 shares in the last quarter. Bryant Woods Investment Advisors LLC increased its position in Broadcom by 3.5% during the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock worth $305,000 after acquiring an additional 45 shares during the period. Marest Capital LLC raised its stake in Broadcom by 1.0% in the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock worth $1,052,000 after purchasing an additional 46 shares in the last quarter. Finally, Defined Wealth Management LLC boosted its holdings in Broadcom by 0.4% in the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock valued at $2,947,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Up 0.7 %

NASDAQ:AVGO opened at $168.52 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom has a 1-year low of $119.76 and a 1-year high of $251.88. The firm has a market capitalization of $792.37 billion, a price-to-earnings ratio of 137.46, a PEG ratio of 2.29 and a beta of 1.01. The business’s 50-day moving average price is $206.64 and its two-hundred day moving average price is $196.54.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.40%. Broadcom’s payout ratio is 113.46%.

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.