Broadcom’s (AVGO) Positive Rating Reaffirmed at Susquehanna

Susquehanna reissued their positive rating on shares of Broadcom (NASDAQ:AVGO) in a research note issued to investors on Monday, Benzinga reports. Susquehanna currently has a $1,010.00 target price on the semiconductor manufacturer’s stock.

A number of other research firms also recently issued reports on AVGO. Truist Financial upped their target price on shares of Broadcom from $942.00 to $995.00 and gave the company a buy rating in a research report on Friday, September 8th. Rosenblatt Securities lifted their target price on shares of Broadcom from $900.00 to $1,000.00 in a report on Friday, September 1st. Benchmark reissued a buy rating and set a $950.00 price target on shares of Broadcom in a research report on Friday, September 1st. Deutsche Bank Aktiengesellschaft increased their target price on Broadcom from $905.00 to $950.00 in a research report on Friday, September 1st. Finally, Wells Fargo & Company boosted their price target on shares of Broadcom from $800.00 to $900.00 and gave the company an equal weight rating in a research note on Friday, September 1st. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $846.14.

Broadcom Stock Performance

AVGO stock opened at $850.00 on Monday. The stock has a market cap of $350.83 billion, a P/E ratio of 26.14, a P/E/G ratio of 1.83 and a beta of 1.10. The firm has a 50 day simple moving average of $875.05 and a 200 day simple moving average of $763.54. The company has a debt-to-equity ratio of 1.73, a quick ratio of 2.25 and a current ratio of 2.50. Broadcom has a 52 week low of $415.07 and a 52 week high of $923.67.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, August 31st. The semiconductor manufacturer reported $10.54 earnings per share for the quarter, topping analysts’ consensus estimates of $10.43 by $0.11. The business had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.85 billion. Broadcom had a net margin of 39.25% and a return on equity of 74.31%. Broadcom’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $9.07 earnings per share. Research analysts anticipate that Broadcom will post 37.88 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 21st will be paid a $4.60 dividend. The ex-dividend date is Wednesday, September 20th. This represents a $18.40 dividend on an annualized basis and a yield of 2.16%. Broadcom’s dividend payout ratio (DPR) is currently 56.58%.

Insiders Place Their Bets

In other Broadcom news, Director Check Kian Low bought 11,000 shares of Broadcom stock in a transaction dated Wednesday, September 6th. The shares were purchased at an average cost of $872.03 per share, with a total value of $9,592,330.00. Following the completion of the purchase, the director now owns 15,951 shares of the company’s stock, valued at $13,909,750.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Check Kian Low purchased 11,000 shares of Broadcom stock in a transaction that occurred on Wednesday, September 6th. The shares were bought at an average cost of $872.03 per share, with a total value of $9,592,330.00. Following the completion of the purchase, the director now directly owns 15,951 shares in the company, valued at $13,909,750.53. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 1,500 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $855.68, for a total value of $1,283,520.00. Following the completion of the sale, the director now directly owns 9,123 shares in the company, valued at $7,806,368.64. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Broadcom

Hedge funds have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. boosted its holdings in Broadcom by 8.0% in the first quarter. Sunbelt Securities Inc. now owns 5,564 shares of the semiconductor manufacturer’s stock worth $3,527,000 after acquiring an additional 414 shares in the last quarter. Border to Coast Pensions Partnership Ltd lifted its holdings in shares of Broadcom by 20.2% during the first quarter. Border to Coast Pensions Partnership Ltd now owns 68,598 shares of the semiconductor manufacturer’s stock valued at $44,008,000 after purchasing an additional 11,532 shares in the last quarter. Capital Advisors Wealth Management LLC lifted its holdings in Broadcom by 12.7% in the second quarter. Capital Advisors Wealth Management LLC now owns 1,964 shares of the semiconductor manufacturer’s stock valued at $1,704,000 after acquiring an additional 222 shares during the period. B.O.S.S. Retirement Advisors LLC lifted its holdings in Broadcom by 749.5% in the second quarter. B.O.S.S. Retirement Advisors LLC now owns 4,018 shares of the semiconductor manufacturer’s stock valued at $3,485,000 after acquiring an additional 3,545 shares during the period. Finally, Belpointe Asset Management LLC lifted its holdings in Broadcom by 9.3% in the first quarter. Belpointe Asset Management LLC now owns 10,564 shares of the semiconductor manufacturer’s stock valued at $6,778,000 after acquiring an additional 899 shares during the period. 78.81% of the stock is owned by institutional investors.

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.