Broadcom (NASDAQ:AVGO) PT Raised to $225.00

Broadcom (NASDAQ:AVGO) had its price target hoisted by Cantor Fitzgerald from $200.00 to $225.00 in a report published on Tuesday, Benzinga reports. They currently have an overweight rating on the semiconductor manufacturer’s stock.

A number of other analysts have also recently weighed in on AVGO. Piper Sandler increased their price objective on Broadcom from $165.00 to $200.00 and gave the stock an overweight rating in a research report on Thursday, June 13th. Oppenheimer dropped their price objective on Broadcom from $2,000.00 to $200.00 and set an outperform rating for the company in a research note on Tuesday, July 16th. Jefferies Financial Group upped their price target on shares of Broadcom from $155.00 to $205.00 and gave the company a buy rating in a report on Thursday, June 13th. The Goldman Sachs Group raised their price target on shares of Broadcom from $185.00 to $190.00 and gave the stock a buy rating in a research note on Friday, September 6th. Finally, Mizuho increased their price objective on shares of Broadcom from $162.50 to $190.00 and gave the stock a buy rating in a report on Thursday, June 13th. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $190.29.

Broadcom Trading Down 0.1 %

AVGO opened at $185.69 on Tuesday. The company has a market cap of $864.36 billion, a P/E ratio of 7.99, a PEG ratio of 2.78 and a beta of 1.17. Broadcom has a one year low of $81.83 and a one year high of $186.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The business’s 50-day simple moving average is $161.39 and its 200-day simple moving average is $150.97.

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

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 9.12%.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom 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 completion of the transaction, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 399,460 shares in the company, valued at $70,744,366. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the firm’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 in the company, valued at approximately $126,754,425.60. 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 276,230 shares of company stock worth $47,190,190 in the last ninety days. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Broadcom

A number of institutional investors have recently modified their holdings of AVGO. Ethic Inc. grew its holdings in shares of Broadcom by 9.7% during the fourth quarter. Ethic Inc. now owns 24,218 shares of the semiconductor manufacturer’s stock valued at $27,034,000 after purchasing an additional 2,135 shares during the last quarter. Putnam Investments LLC boosted its position in Broadcom by 2.2% during the 4th quarter. Putnam Investments LLC now owns 588,836 shares of the semiconductor manufacturer’s stock valued at $657,288,000 after purchasing an additional 12,432 shares during the period. First Financial Bankshares Inc bought a new position in Broadcom during the 4th quarter worth $93,341,000. Washington Trust Bank increased its position in Broadcom by 12.4% in the fourth quarter. Washington Trust Bank now owns 482 shares of the semiconductor manufacturer’s stock worth $538,000 after buying an additional 53 shares during the period. Finally, Power Corp of Canada lifted its stake in Broadcom by 4.2% in the fourth quarter. Power Corp of Canada now owns 9,407 shares of the semiconductor manufacturer’s stock valued at $10,501,000 after buying an additional 378 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

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.