Broadcom Inc. (NASDAQ:AVGO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Broadcom Inc. (NASDAQ:AVGO) has been assigned an average rating of “Moderate Buy” from the nineteen analysts that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $848.52.

Several research analysts have weighed in on AVGO shares. Needham & Company LLC boosted their price objective on Broadcom from $33.00 to $44.00 in a research report on Friday, September 1st. Robert W. Baird boosted their price objective on Broadcom from $900.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 5th. Piper Sandler boosted their price objective on Broadcom from $830.00 to $925.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 29th. Deutsche Bank Aktiengesellschaft boosted their price objective on Broadcom from $905.00 to $950.00 in a research report on Friday, September 1st. Finally, TD Cowen boosted their price objective on Broadcom from $800.00 to $900.00 and gave the stock a “market perform” rating in a research report on Friday, September 1st.

Insiders Place Their Bets

In other news, Director Eddy W. Hartenstein sold 1,500 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $855.68, for a total transaction of $1,283,520.00. Following the transaction, the director now directly owns 9,123 shares in the company, valued at approximately $7,806,368.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Eddy W. Hartenstein sold 1,500 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $855.68, for a total transaction of $1,283,520.00. Following the transaction, the director now directly owns 9,123 shares in the company, valued at approximately $7,806,368.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harry L. You acquired 1,000 shares of Broadcom stock in a transaction dated Friday, September 15th. The shares were purchased at an average price of $858.96 per share, for a total transaction of $858,960.00. Following the completion of the transaction, the director now directly owns 3,510 shares in the company, valued at approximately $3,014,949.60. The disclosure for this purchase can be found here. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Broadcom

Institutional investors have recently bought and sold shares of the stock. Insight Advisors LLC PA boosted its holdings in Broadcom by 1.0% during the 2nd quarter. Insight Advisors LLC PA now owns 1,467 shares of the semiconductor manufacturer’s stock valued at $1,273,000 after acquiring an additional 14 shares during the period. NorthRock Partners LLC lifted its holdings in Broadcom by 10.9% in the 2nd quarter. NorthRock Partners LLC now owns 1,531 shares of the semiconductor manufacturer’s stock worth $1,328,000 after buying an additional 151 shares during the period. Beacon Bridge Wealth Partners LLC lifted its holdings in Broadcom by 1,655.9% in the 2nd quarter. Beacon Bridge Wealth Partners LLC now owns 8,481 shares of the semiconductor manufacturer’s stock worth $7,354,000 after buying an additional 7,998 shares during the period. Sunbelt Securities Inc. lifted its holdings in Broadcom by 8.0% in the 1st quarter. Sunbelt Securities Inc. now owns 5,564 shares of the semiconductor manufacturer’s stock worth $3,527,000 after buying an additional 414 shares during the period. Finally, Border to Coast Pensions Partnership Ltd lifted its holdings in Broadcom by 20.2% in the 1st quarter. Border to Coast Pensions Partnership Ltd now owns 68,598 shares of the semiconductor manufacturer’s stock worth $44,008,000 after buying an additional 11,532 shares during the period. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Trading Up 1.8 %

Shares of Broadcom stock opened at $995.71 on Tuesday. The stock has a fifty day simple moving average of $871.36 and a 200 day simple moving average of $843.08. Broadcom has a 12-month low of $511.11 and a 12-month high of $999.87. The company has a market capitalization of $410.97 billion, a P/E ratio of 30.62, a price-to-earnings-growth ratio of 1.90 and a beta of 1.11. The company has a current ratio of 2.50, a quick ratio of 2.25 and a debt-to-equity ratio of 1.73.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, August 31st. The semiconductor manufacturer reported $10.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.43 by $0.11. Broadcom had a return on equity of 74.31% and a net margin of 39.25%. The business had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.85 billion. During the same quarter in the prior year, the company posted $9.07 earnings per share. Broadcom’s revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Broadcom will post 37.83 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Thursday, September 21st were paid a $4.60 dividend. The ex-dividend date was Wednesday, September 20th. This represents a $18.40 dividend on an annualized basis and a yield of 1.85%. Broadcom’s dividend payout ratio is currently 56.58%.

About Broadcom

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.