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

Shares of Broadcom Inc. (NASDAQ:AVGO) have been given an average recommendation of “Buy” by the thirty research firms that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $469.92.

A number of research analysts recently commented on the company. Argus raised their price target on Broadcom from $400.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, December 14th. JPMorgan Chase & Co. raised their price target on Broadcom from $500.00 to $570.00 and gave the stock an “overweight” rating in a research report on Thursday, March 11th. Royal Bank of Canada raised their price target on Broadcom from $450.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, March 11th. Oppenheimer raised their price target on Broadcom from $500.00 to $575.00 and gave the stock an “outperform” rating in a research report on Thursday, March 4th. Finally, Robert W. Baird restated a “buy” rating on shares of Broadcom in a research report on Sunday, March 7th.

In other Broadcom news, insider Thomas H. Krause sold 16,827 shares of the business’s stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $478.61, for a total value of $8,053,570.47. Also, Director Harry L. You sold 100 shares of the business’s stock in a transaction that occurred on Monday, March 29th. The shares were sold at an average price of $474.23, for a total value of $47,423.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,997 shares of company stock worth $13,241,645. 3.00% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. Sage Rhino Capital LLC raised its position in shares of Broadcom by 2.2% during the fourth quarter. Sage Rhino Capital LLC now owns 977 shares of the semiconductor manufacturer’s stock worth $428,000 after purchasing an additional 21 shares during the period. CRA Financial Services LLC grew its holdings in Broadcom by 1.2% during the fourth quarter. CRA Financial Services LLC now owns 1,877 shares of the semiconductor manufacturer’s stock worth $822,000 after buying an additional 22 shares in the last quarter. Rossmore Private Capital grew its holdings in Broadcom by 0.6% during the fourth quarter. Rossmore Private Capital now owns 3,468 shares of the semiconductor manufacturer’s stock worth $1,518,000 after buying an additional 22 shares in the last quarter. Wealth Alliance grew its holdings in Broadcom by 1.2% during the third quarter. Wealth Alliance now owns 2,006 shares of the semiconductor manufacturer’s stock worth $731,000 after buying an additional 24 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its holdings in Broadcom by 0.9% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 2,827 shares of the semiconductor manufacturer’s stock worth $1,237,000 after buying an additional 24 shares in the last quarter. 80.62% of the stock is currently owned by institutional investors.

Shares of AVGO traded up $3.02 during midday trading on Thursday, reaching $485.48. 1,811,571 shares of the stock were exchanged, compared to its average volume of 2,209,719. Broadcom has a twelve month low of $246.80 and a twelve month high of $495.14. The company has a quick ratio of 1.71, a current ratio of 1.87 and a debt-to-equity ratio of 1.69. The company has a market cap of $198.22 billion, a P/E ratio of 76.40, a PEG ratio of 1.50 and a beta of 1.05. The stock’s 50 day simple moving average is $469.01 and its 200 day simple moving average is $423.73.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, March 3rd. The semiconductor manufacturer reported $6.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $6.56 by $0.05. Broadcom had a return on equity of 35.23% and a net margin of 12.39%. The company had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $6.61 billion. During the same quarter last year, the firm earned $5.25 earnings per share. The company’s revenue was up 13.6% on a year-over-year basis. As a group, analysts predict that Broadcom will post 23.14 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Monday, March 22nd were paid a $3.60 dividend. This represents a $14.40 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Friday, March 19th. Broadcom’s dividend payout ratio is currently 78.05%.

About Broadcom

Broadcom Inc designs, develops, and supplies semiconductor infrastructure software solutions. It offers 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's infrastructure software solutions enable customers to plan, develop, automate, manage, and secure applications across mainframe, distributed, mobile, and cloud platforms.

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Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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