Broadcom Inc (AVGO) Forecasted to Post FY2018 Earnings of $18.10 Per Share

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Broadcom Inc (NASDAQ:AVGO) – Analysts at SunTrust Banks lowered their FY2018 earnings estimates for shares of Broadcom in a note issued to investors on Tuesday, December 4th. SunTrust Banks analyst W. Stein now anticipates that the semiconductor manufacturer will post earnings per share of $18.10 for the year, down from their previous forecast of $18.13. SunTrust Banks also issued estimates for Broadcom’s Q4 2018 earnings at $5.02 EPS.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.58 by $0.27. The firm had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.40 billion. Broadcom had a net margin of 58.18% and a return on equity of 28.54%. Broadcom’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the business posted $4.59 EPS.

A number of other research analysts have also issued reports on AVGO. BidaskClub lowered shares of Broadcom from a “hold” rating to a “sell” rating in a research note on Saturday, August 11th. Bank of America raised shares of Broadcom from a “neutral” rating to a “buy” rating in a research note on Friday, September 7th. Craig Hallum restated a “buy” rating and set a $300.00 price target (down from $330.00) on shares of Broadcom in a research report on Friday, September 7th. B. Riley boosted their price target on shares of Broadcom from $245.00 to $250.00 and gave the stock a “neutral” rating in a research report on Friday, September 7th. Finally, Cowen boosted their price target on shares of Broadcom from $245.00 to $255.00 and gave the stock an “outperform” rating in a research report on Friday, September 7th. Nine investment analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. Broadcom currently has an average rating of “Buy” and a consensus target price of $286.16.

Broadcom stock opened at $227.24 on Thursday. The company has a quick ratio of 3.42, a current ratio of 3.98 and a debt-to-equity ratio of 0.64. The stock has a market cap of $95.94 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.00 and a beta of 1.03. Broadcom has a 52-week low of $197.46 and a 52-week high of $275.70.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Wednesday, December 19th will be issued a $2.65 dividend. This is an increase from Broadcom’s previous quarterly dividend of $1.75. This represents a $10.60 dividend on an annualized basis and a dividend yield of 4.66%. Broadcom’s payout ratio is presently 48.95%.

In related news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $228.94, for a total value of $4,578,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kirsten M. Spears sold 1,194 shares of the business’s stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $246.52, for a total transaction of $294,344.88. The disclosure for this sale can be found here. Insiders sold a total of 61,194 shares of company stock worth $14,266,145 over the last quarter. Insiders own 3.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marcus Capital LLC purchased a new position in shares of Broadcom in the second quarter worth approximately $364,000. Wesbanco Bank Inc. purchased a new position in shares of Broadcom in the second quarter worth approximately $19,879,000. Cambridge Investment Research Advisors Inc. increased its position in shares of Broadcom by 134.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 19,591 shares of the semiconductor manufacturer’s stock worth $4,834,000 after acquiring an additional 11,234 shares in the last quarter. KBC Group NV purchased a new position in shares of Broadcom in the second quarter worth approximately $10,500,000. Finally, Oakwood Capital Management LLC CA purchased a new position in shares of Broadcom in the second quarter worth approximately $3,347,000. Institutional investors and hedge funds own 85.22% of the company’s stock.

About Broadcom

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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