Shares of Broadcom Inc. (NASDAQ:AVGO – Get 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:AVGO – Get 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.
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.
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