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Broadcom Inc. (NASDAQ:AVGO) Receives Average Recommendation of “Moderate Buy” from


Shares of Broadcom Inc. (NASDAQ:AVGOGet Rating) have received an average recommendation of “Moderate Buy” from the twenty-four brokerages that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $675.13.

AVGO has been the subject of a number of research reports. Truist Financial reduced their price target on shares of Broadcom from $658.00 to $630.00 and set a “buy” rating for the company in a research report on Friday, September 2nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Broadcom from $635.00 to $575.00 and set a “buy” rating on the stock in a report on Tuesday, October 18th. Susquehanna reaffirmed a “buy” rating and set a $680.00 price objective on shares of Broadcom in a research report on Friday, September 2nd. Robert W. Baird reaffirmed an “outperform” rating and set a $700.00 price objective on shares of Broadcom in a research report on Tuesday, September 6th. Finally, BMO Capital Markets decreased their target price on shares of Broadcom from $675.00 to $650.00 and set an “outperform” rating for the company in a research report on Friday, September 2nd.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $522.21 on Tuesday. The company has a quick ratio of 2.05, a current ratio of 2.32 and a debt-to-equity ratio of 1.88. The company has a market cap of $211.50 billion, a P/E ratio of 22.59, a PEG ratio of 0.95 and a beta of 1.08. Broadcom has a 52 week low of $415.07 and a 52 week high of $677.76. The company has a 50-day moving average price of $474.48 and a 200 day moving average price of $507.49.

Broadcom (NASDAQ:AVGOGet Rating) last posted its quarterly earnings results on Thursday, September 1st. The semiconductor manufacturer reported $9.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.84 by $0.23. Broadcom had a net margin of 31.96% and a return on equity of 63.42%. The company had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.41 billion. During the same period last year, the firm earned $6.32 EPS. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. Research analysts predict that Broadcom will post 34.38 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 22nd were issued a dividend of $4.10 per share. This represents a $16.40 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Wednesday, September 21st. Broadcom’s dividend payout ratio is currently 70.93%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisor L.P lifted its stake in Broadcom by 94.4% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock valued at $47,283,000 after buying an additional 36,458 shares in the last quarter. IFM Investors Pty Ltd lifted its position in shares of Broadcom by 25.3% in the first quarter. IFM Investors Pty Ltd now owns 66,514 shares of the semiconductor manufacturer’s stock worth $41,883,000 after purchasing an additional 13,417 shares in the last quarter. Davis R M Inc. lifted its position in shares of Broadcom by 18.5% in the first quarter. Davis R M Inc. now owns 2,154 shares of the semiconductor manufacturer’s stock worth $1,356,000 after purchasing an additional 336 shares in the last quarter. SFE Investment Counsel lifted its position in shares of Broadcom by 55.8% in the first quarter. SFE Investment Counsel now owns 4,762 shares of the semiconductor manufacturer’s stock worth $2,999,000 after purchasing an additional 1,705 shares in the last quarter. Finally, Peninsula Wealth LLC lifted its position in shares of Broadcom by 16.4% in the first quarter. Peninsula Wealth LLC now owns 1,165 shares of the semiconductor manufacturer’s stock worth $733,000 after purchasing an additional 164 shares in the last quarter. Institutional investors and hedge funds own 79.60% of the company’s stock.

About Broadcom

(Get Rating)

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.

See Also

Analyst Recommendations for Broadcom (NASDAQ:AVGO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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