Mizuho Increases Broadcom (AVGO) Price Target to $305.00
Broadcom (NASDAQ:AVGO) had its target price boosted by Mizuho from $295.00 to $305.00 in a report released on Friday, The Fly reports. Mizuho currently has a buy rating on the semiconductor manufacturer’s stock.
A number of other research firms have also recently weighed in on AVGO. Piper Jaffray Companies reaffirmed an overweight rating and set a $310.00 price objective on shares of Broadcom in a research report on Thursday, February 14th. Cowen cut shares of Broadcom from an outperform rating to a market perform rating and set a $280.00 price objective for the company. in a research report on Friday, February 22nd. BidaskClub cut shares of Broadcom from a strong-buy rating to a buy rating in a research report on Saturday, March 9th. ValuEngine raised shares of Broadcom from a hold rating to a buy rating in a research report on Monday, December 17th. Finally, Deutsche Bank decreased their price target on shares of Broadcom from $310.00 to $300.00 and set a buy rating for the company in a research report on Monday, December 3rd. Ten equities research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $295.36.
NASDAQ:AVGO opened at $290.29 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.90 and a quick ratio of 3.41. The company has a market cap of $106.80 billion, a P/E ratio of 15.42, a P/E/G ratio of 1.22 and a beta of 0.67. Broadcom has a fifty-two week low of $197.46 and a fifty-two week high of $286.63.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, March 21st will be issued a $2.65 dividend. This represents a $10.60 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 56.29%.
In other news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 15th. The shares were sold at an average price of $254.99, for a total value of $5,099,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Donald Macleod sold 5,223 shares of the business’s stock in a transaction that occurred on Monday, January 7th. The shares were sold at an average price of $233.65, for a total transaction of $1,220,353.95. The disclosure for this sale can be found here. Insiders own 3.30% of the company’s stock.
Large investors have recently bought and sold shares of the company. Independence Bank of Kentucky acquired a new position in Broadcom during the fourth quarter worth approximately $187,000. Viking Fund Management LLC increased its position in Broadcom by 50.0% during the fourth quarter. Viking Fund Management LLC now owns 9,000 shares of the semiconductor manufacturer’s stock worth $2,289,000 after purchasing an additional 3,000 shares during the last quarter. Cigna Investments Inc. New grew its stake in Broadcom by 9.0% during the fourth quarter. Cigna Investments Inc. New now owns 13,783 shares of the semiconductor manufacturer’s stock worth $3,505,000 after buying an additional 1,134 shares during the period. CHURCHILL MANAGEMENT Corp grew its stake in Broadcom by 183.2% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 80,057 shares of the semiconductor manufacturer’s stock worth $20,357,000 after buying an additional 51,786 shares during the period. Finally, Cobiz Wealth LLC boosted its stake in shares of Broadcom by 2.6% in the fourth quarter. Cobiz Wealth LLC now owns 26,674 shares of the semiconductor manufacturer’s stock valued at $6,783,000 after purchasing an additional 665 shares during the period. 83.49% of the stock is owned by institutional investors and hedge funds.
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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