Broadcom (AVGO) Price Target Increased to $330.00 by Analysts at Nomura
Other research analysts have also issued reports about the stock. Cowen reissued a buy rating and set a $260.00 target price on shares of Broadcom in a research note on Friday, August 11th. B. Riley reaffirmed a buy rating and issued a $305.00 price target on shares of Broadcom in a research note on Saturday, August 26th. Craig Hallum reaffirmed a buy rating on shares of Broadcom in a research note on Wednesday, September 13th. DA Davidson upped their price target on shares of Broadcom to $325.00 and gave the stock a buy rating in a research note on Friday. Finally, Robert W. Baird reaffirmed an outperform rating and issued a $290.00 price target (up from $260.00) on shares of Broadcom in a research note on Friday, August 25th. Five investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company. Broadcom currently has a consensus rating of Buy and a consensus price target of $300.62.
Broadcom (NASDAQ AVGO) traded down $3.98 during trading on Friday, reaching $259.91. 4,114,330 shares of the company’s stock were exchanged, compared to its average volume of 3,130,041. The company has a debt-to-equity ratio of 0.75, a current ratio of 6.39 and a quick ratio of 3.84. The firm has a market cap of $107,661.69, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 1.20 and a beta of 1.05. Broadcom has a 52-week low of $173.31 and a 52-week high of $285.68.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Tuesday, December 19th will be paid a dividend of $1.75 per share. The ex-dividend date of this dividend is Monday, December 18th. This is a positive change from Broadcom’s previous quarterly dividend of $1.02. This represents a $7.00 annualized dividend and a yield of 2.69%. Broadcom’s dividend payout ratio is currently 95.77%.
In other news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $246.48, for a total transaction of $4,929,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Bryan Ingram sold 794 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $258.60, for a total transaction of $205,328.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 105,177 shares of company stock valued at $26,154,512. Company insiders own 3.60% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in AVGO. IFP Advisors Inc raised its holdings in shares of Broadcom by 13.4% during the second quarter. IFP Advisors Inc now owns 2,169 shares of the semiconductor manufacturer’s stock valued at $506,000 after acquiring an additional 257 shares during the period. Solaris Asset Management LLC acquired a new position in Broadcom in the 2nd quarter valued at approximately $1,946,000. Canada Pension Plan Investment Board increased its stake in Broadcom by 992.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 368,444 shares of the semiconductor manufacturer’s stock valued at $85,866,000 after buying an additional 334,731 shares during the period. Wetherby Asset Management Inc. increased its stake in Broadcom by 16.1% in the 2nd quarter. Wetherby Asset Management Inc. now owns 5,384 shares of the semiconductor manufacturer’s stock valued at $1,255,000 after buying an additional 745 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in Broadcom by 3.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,233,216 shares of the semiconductor manufacturer’s stock valued at $287,401,000 after buying an additional 46,395 shares during the period. Institutional investors and hedge funds own 88.99% of the company’s stock.
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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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