Broadcom Inc. (NASDAQ:AVGO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Broadcom Inc. (NASDAQ:AVGO) has been given an average rating of “Moderate Buy” by the twenty-nine analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, twenty-six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $272.71.

A number of equities research analysts have weighed in on the stock. Susquehanna boosted their target price on shares of Broadcom from $280.00 to $300.00 and gave the stock a “positive” rating in a report on Friday, June 6th. Seaport Res Ptn raised Broadcom to a “strong-buy” rating in a research note on Wednesday, April 30th. UBS Group lifted their price objective on Broadcom from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, June 6th. KeyCorp lifted their price objective on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Finally, Redburn Atlantic began coverage on Broadcom in a research note on Wednesday, May 28th. They issued a “buy” rating and a $301.00 price objective on the stock.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the business’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the completion of the sale, the insider now owns 465,956 shares in the company, valued at approximately $83,872,080. The trade was a 5.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Justine Page sold 800 shares of the business’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the sale, the director now owns 25,380 shares of the company’s stock, valued at $4,695,300. This trade represents a 3.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 720,576 shares of company stock worth $131,249,694 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Broadcom

A number of hedge funds and other institutional investors have recently bought and sold shares of AVGO. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in shares of Broadcom by 3.8% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock worth $120,070,000 after acquiring an additional 18,845 shares in the last quarter. Nebula Research & Development LLC grew its stake in shares of Broadcom by 1,100.8% in the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock worth $3,642,000 after acquiring an additional 14,399 shares in the last quarter. Kovack Advisors Inc. grew its stake in shares of Broadcom by 8.1% in the 4th quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer’s stock worth $7,971,000 after acquiring an additional 2,570 shares in the last quarter. SOA Wealth Advisors LLC. grew its stake in shares of Broadcom by 50.6% in the 4th quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer’s stock worth $245,000 after acquiring an additional 355 shares in the last quarter. Finally, Coppell Advisory Solutions LLC grew its stake in shares of Broadcom by 1,512.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer’s stock worth $21,660,000 after acquiring an additional 86,884 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $244.63 on Wednesday. The business’s 50-day moving average price is $206.98 and its 200-day moving average price is $207.63. Broadcom has a 12 month low of $128.50 and a 12 month high of $265.43. The firm has a market capitalization of $1.15 trillion, a price-to-earnings ratio of 199.54, a PEG ratio of 2.29 and a beta of 1.11. 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 (NASDAQ:AVGO) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.01. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. During the same period in the previous year, the firm posted $10.96 EPS. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. Equities research analysts forecast that Broadcom will post 5.38 EPS for the current year.

Broadcom declared that its Board of Directors has initiated a share repurchase program on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.96%. Broadcom’s dividend payout ratio is 88.39%.

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.