Broadcom (AVGO) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Broadcom (NASDAQ:AVGO) posted its earnings results on Wednesday. The semiconductor manufacturer reported $4.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.52 by $0.07, Bloomberg Earnings reports. Broadcom had a return on equity of 26.82% and a net margin of 3.12%. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.84 billion. During the same period in the previous year, the business earned $3.47 EPS. The business’s quarterly revenue was up 17.1% on a year-over-year basis.

Shares of Broadcom (NASDAQ AVGO) opened at $263.89 on Thursday. Broadcom has a 52 week low of $163.67 and a 52 week high of $285.68. The stock has a market capitalization of $106,747.80, a P/E ratio of 19.78, a P/E/G ratio of 1.26 and a beta of 1.05. The company has a quick ratio of 3.84, a current ratio of 4.48 and a debt-to-equity ratio of 0.60.

In other Broadcom news, SVP Bryan Ingram sold 30,000 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $244.01, for a total transaction of $7,320,300.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Charlie B. Kawwas sold 1,788 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $247.28, for a total value of $442,136.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,383 shares of company stock worth $25,949,184. Corporate insiders own 3.60% of the company’s stock.

Several equities analysts recently issued reports on AVGO shares. Barclays boosted their price target on Broadcom from $290.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. B. Riley boosted their price target on Broadcom from $305.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Vetr cut Broadcom from a “buy” rating to a “hold” rating and set a $261.95 price target on the stock. in a research report on Monday, September 4th. Zacks Investment Research upgraded Broadcom from a “hold” rating to a “buy” rating and set a $272.00 price target on the stock in a research report on Tuesday, August 29th. Finally, KeyCorp restated a “buy” rating and issued a $290.00 price target on shares of Broadcom in a research report on Tuesday, October 17th. Five research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Broadcom presently has an average rating of “Buy” and a consensus price target of $293.51.

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Broadcom Company Profile

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.

Earnings History for Broadcom (NASDAQ:AVGO)

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