BidaskClub cut shares of Broadcom (NASDAQ:AVGO) from a buy rating to a hold rating in a research note released on Saturday morning, BidAskClub reports.

Other equities research analysts also recently issued reports about the stock. Susquehanna Bancshares reiterated a buy rating and set a $345.00 price target on shares of Broadcom in a report on Wednesday, December 11th. Bank of America restated a buy rating on shares of Broadcom in a report on Monday, December 9th. KeyCorp boosted their target price on shares of Broadcom from $340.00 to $360.00 and gave the company an overweight rating in a report on Friday, December 13th. Citigroup boosted their target price on shares of Broadcom from $340.00 to $378.00 and gave the company a buy rating in a report on Monday, December 16th. Finally, Piper Jaffray Companies restated a buy rating and issued a $345.00 target price (up from $330.00) on shares of Broadcom in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company. The company has a consensus rating of Buy and an average price target of $333.23.

Shares of NASDAQ AVGO opened at $308.07 on Friday. The company has a market cap of $122.83 billion, a PE ratio of 47.84, a price-to-earnings-growth ratio of 1.50 and a beta of 0.90. Broadcom has a 12 month low of $250.09 and a 12 month high of $331.20. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.44 and a quick ratio of 1.31. The company has a 50-day simple moving average of $313.90 and a 200-day simple moving average of $295.61.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $5.39 EPS for the quarter, topping analysts’ consensus estimates of $5.35 by $0.04. The business had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.74 billion. Broadcom had a net margin of 12.06% and a return on equity of 46.16%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.85 earnings per share. On average, analysts anticipate that Broadcom will post 19.22 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $3.25 per share. This is an increase from Broadcom’s previous quarterly dividend of $2.65. This represents a $13.00 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend was Friday, December 20th. Broadcom’s payout ratio is currently 74.67%.

In other Broadcom news, CEO Hock E. Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.56, for a total transaction of $6,291,200.00. Also, CEO Hock E. Tan sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $311.02, for a total transaction of $23,326,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 188,646 shares of company stock valued at $58,355,351. 3.30% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in Broadcom by 0.4% during the second quarter. BlackRock Inc. now owns 25,780,514 shares of the semiconductor manufacturer’s stock worth $7,421,177,000 after buying an additional 105,186 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Broadcom by 2,421.3% during the second quarter. Nuveen Asset Management LLC now owns 3,410,706 shares of the semiconductor manufacturer’s stock worth $981,806,000 after purchasing an additional 3,275,431 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of Broadcom by 24.6% during the second quarter. UBS Asset Management Americas Inc. now owns 1,892,948 shares of the semiconductor manufacturer’s stock worth $544,904,000 after purchasing an additional 373,703 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Broadcom by 33.7% during the third quarter. California Public Employees Retirement System now owns 911,270 shares of the semiconductor manufacturer’s stock worth $251,574,000 after purchasing an additional 229,749 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Broadcom by 7.0% during the third quarter. First Trust Advisors LP now owns 816,866 shares of the semiconductor manufacturer’s stock worth $225,512,000 after purchasing an additional 53,474 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Broadcom Company Profile

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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Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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