Broadcom Inc. (NASDAQ:AVGO) Receives Consensus Rating of “Moderate Buy” from Analysts

Broadcom Inc. (NASDAQ:AVGO – Get Rating) has been given an average recommendation of “Moderate Buy” by the twenty-one brokerages that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $667.21.

AVGO has been the topic of several recent analyst reports. Cowen boosted their target price on shares of Broadcom from $540.00 to $555.00 and gave the company a “market perform” rating in a research note on Friday, December 9th. Susquehanna cut their target price on shares of Broadcom from $680.00 to $650.00 in a research note on Monday, December 5th. Bank of America boosted their target price on shares of Broadcom from $625.00 to $650.00 in a research note on Friday, December 9th. StockNews.com raised shares of Broadcom from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 5th. Finally, Susquehanna Bancshares cut their target price on shares of Broadcom from $680.00 to $650.00 and set a “positive” rating on the stock in a research note on Monday, December 5th.

Insider Buying and Selling

In related news, Director Justine Page sold 170 shares of the company’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $574.86, for a total value of $97,726.20. Following the completion of the sale, the director now directly owns 2,981 shares in the company, valued at $1,713,657.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Broadcom

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Broadcom by 0.5% during the third quarter. Vanguard Group Inc. now owns 37,632,782 shares of the semiconductor manufacturer’s stock valued at $16,709,332,000 after acquiring an additional 190,304 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Broadcom by 11.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,682,635 shares of the semiconductor manufacturer’s stock valued at $2,948,563,000 after acquiring an additional 488,405 shares during the period. Nuveen Asset Management LLC boosted its holdings in Broadcom by 4.4% during the third quarter. Nuveen Asset Management LLC now owns 4,452,543 shares of the semiconductor manufacturer’s stock valued at $1,976,973,000 after acquiring an additional 188,078 shares during the period. Bank of New York Mellon Corp boosted its holdings in Broadcom by 1.9% during the third quarter. Bank of New York Mellon Corp now owns 4,022,517 shares of the semiconductor manufacturer’s stock valued at $1,786,039,000 after acquiring an additional 74,395 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Broadcom by 53.4% during the third quarter. Price T Rowe Associates Inc. MD now owns 3,420,481 shares of the semiconductor manufacturer’s stock valued at $1,528,063,000 after acquiring an additional 1,191,113 shares during the period. 81.28% of the stock is currently owned by institutional investors.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $585.03 on Wednesday. Broadcom has a one year low of $415.07 and a one year high of $645.31. The stock has a fifty day moving average of $552.10 and a 200-day moving average of $515.33. The company has a market capitalization of $244.48 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 1.19 and a beta of 1.08. The company has a debt-to-equity ratio of 1.72, a quick ratio of 2.35 and a current ratio of 2.62.

Broadcom (NASDAQ:AVGO – Get Rating) last announced its quarterly earnings data on Thursday, December 8th. The semiconductor manufacturer reported $9.75 EPS for the quarter, beating analysts’ consensus estimates of $9.50 by $0.25. Broadcom had a return on equity of 70.00% and a net margin of 34.62%. The company had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the prior year, the firm earned $7.01 EPS. The company’s quarterly revenue was up 20.6% compared to the same quarter last year. As a group, equities analysts anticipate that Broadcom will post 37.39 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Tuesday, December 20th were issued a $4.60 dividend. The ex-dividend date of this dividend was Monday, December 19th. This is a boost from Broadcom’s previous quarterly dividend of $4.10. This represents a $18.40 dividend on an annualized basis and a yield of 3.15%. Broadcom’s dividend payout ratio is currently 69.43%.

Broadcom Company Profile

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Broadcom, Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.