A number of other analysts also recently weighed in on the stock. JPMorgan Chase & Co. set a $24.00 target price on shares of Urovant Sciences and gave the stock a buy rating in a research report on Friday, June 14th. Morgan Stanley set a $143.00 price objective on shares of FedEx and gave the stock a hold rating in a research note on Monday, June 10th. Wells Fargo & Co reissued a hold rating on shares of Broadcom in a report on Friday, March 15th. Craig Hallum reaffirmed a buy rating and set a $315.00 price objective (down from $325.00) on shares of Broadcom in a report on Friday, June 14th. Finally, Loop Capital increased their price objective on shares of Broadcom to $315.00 and gave the company a buy rating in a report on Monday, March 18th. Twelve analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $297.62.
NASDAQ AVGO opened at $276.06 on Tuesday. Broadcom has a 52-week low of $197.46 and a 52-week high of $323.20. The stock’s 50-day moving average is $272.64. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.26 and a quick ratio of 1.13. The stock has a market capitalization of $109.89 billion, a P/E ratio of 14.66, a PEG ratio of 1.34 and a beta of 0.94.
Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, June 13th. The semiconductor manufacturer reported $5.21 EPS for the quarter, beating the consensus estimate of $5.18 by $0.03. Broadcom had a net margin of 15.92% and a return on equity of 32.81%. The company had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the previous year, the company earned $4.88 earnings per share. Broadcom’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, research analysts predict that Broadcom will post 17.3 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Monday, June 24th were issued a $2.65 dividend. The ex-dividend date of this dividend was Friday, June 21st. This represents a $10.60 dividend on an annualized basis and a dividend yield of 3.84%. Broadcom’s payout ratio is currently 56.29%.
In other news, SVP Bryan Ingram sold 11,922 shares of Broadcom stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $278.58, for a total value of $3,321,230.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $264.00, for a total value of $5,280,000.00. The disclosure for this sale can be found here. Insiders sold 65,388 shares of company stock worth $18,656,682 over the last ninety days. 3.30% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BTIM Corp. lifted its stake in shares of Broadcom by 1.7% during the first quarter. BTIM Corp. now owns 1,883 shares of the semiconductor manufacturer’s stock valued at $566,000 after acquiring an additional 32 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of Broadcom by 9.1% during the first quarter. Parkside Financial Bank & Trust now owns 395 shares of the semiconductor manufacturer’s stock worth $119,000 after buying an additional 33 shares in the last quarter. Lindbrook Capital LLC grew its holdings in shares of Broadcom by 5.4% during the first quarter. Lindbrook Capital LLC now owns 662 shares of the semiconductor manufacturer’s stock worth $199,000 after buying an additional 34 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in shares of Broadcom by 1.4% during the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 2,948 shares of the semiconductor manufacturer’s stock worth $886,000 after buying an additional 40 shares in the last quarter. Finally, Intl Fcstone Inc. grew its stake in Broadcom by 3.7% in the first quarter. Intl Fcstone Inc. now owns 1,167 shares of the semiconductor manufacturer’s stock valued at $351,000 after purchasing an additional 42 shares in the last quarter. Institutional investors and hedge funds own 83.91% of the company’s stock.
Broadcom Company Profile
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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