Shares of Broadcom Ltd (NASDAQ:AVGO) have been assigned a consensus recommendation of “Buy” from the thirty-nine brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, thirty-two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $303.85.
Several research analysts have commented on the company. BidaskClub lowered Broadcom from a “hold” rating to a “sell” rating in a research report on Thursday. Vetr lowered Broadcom from a “buy” rating to a “hold” rating and set a $273.40 price objective on the stock. in a research report on Wednesday. Oppenheimer reissued a “buy” rating on shares of Broadcom in a research report on Friday, December 15th. Mizuho reissued a “buy” rating and issued a $310.00 price objective on shares of Broadcom in a research report on Thursday, December 14th. Finally, Nomura lifted their target price on Broadcom to $330.00 and gave the stock a “buy” rating in a research report on Friday, December 8th.
In related news, insider Hock E. Tan sold 20,789 shares of Broadcom stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $259.85, for a total value of $5,402,021.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas H. Krause sold 2,595 shares of Broadcom stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $267.34, for a total value of $693,747.30. The disclosure for this sale can be found here. Insiders sold 86,674 shares of company stock valued at $22,311,790 over the last quarter. Insiders own 3.60% of the company’s stock.
A number of hedge funds have recently modified their holdings of AVGO. Chicago Equity Partners LLC acquired a new position in Broadcom in the second quarter valued at approximately $205,000. Martingale Asset Management L P boosted its stake in Broadcom by 35.1% in the second quarter. Martingale Asset Management L P now owns 8,113 shares of the semiconductor manufacturer’s stock valued at $1,891,000 after acquiring an additional 2,107 shares during the period. Fiera Capital Corp boosted its stake in Broadcom by 2.3% in the second quarter. Fiera Capital Corp now owns 40,961 shares of the semiconductor manufacturer’s stock valued at $9,546,000 after acquiring an additional 937 shares during the period. Norinchukin Bank The boosted its stake in Broadcom by 6.9% in the second quarter. Norinchukin Bank The now owns 27,853 shares of the semiconductor manufacturer’s stock valued at $6,491,000 after acquiring an additional 1,793 shares during the period. Finally, Dorsey & Whitney Trust CO LLC boosted its stake in Broadcom by 37.9% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 2,336 shares of the semiconductor manufacturer’s stock valued at $544,000 after acquiring an additional 642 shares during the period. Institutional investors own 88.48% of the company’s stock.
Broadcom (NASDAQ:AVGO) traded up $0.79 during trading hours on Friday, reaching $264.29. The company’s stock had a trading volume of 1,988,279 shares, compared to its average volume of 2,535,620. The company has a quick ratio of 5.68, a current ratio of 6.26 and a debt-to-equity ratio of 0.75. Broadcom has a one year low of $177.56 and a one year high of $285.68. The stock has a market capitalization of $107,820.00, a price-to-earnings ratio of 67.25, a PEG ratio of 1.16 and a beta of 1.04.
Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, beating the consensus estimate of $4.52 by $0.07. Broadcom had a return on equity of 28.64% and a net margin of 10.18%. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.84 billion. During the same period last year, the company posted $3.47 earnings per share. The firm’s revenue was up 17.1% compared to the same quarter last year. research analysts predict that Broadcom will post 16.99 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Tuesday, December 19th were paid a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 2.65%. This is an increase from Broadcom’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Monday, December 18th. Broadcom’s dividend payout ratio (DPR) is 178.12%.
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Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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