Broadcom Inc (NASDAQ:AVGO) has earned a consensus rating of “Buy” from the thirty-nine brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $288.99.

AVGO has been the topic of a number of recent research reports. Bank of America restated a “neutral” rating and issued a $240.00 target price on shares of Broadcom in a report on Monday, July 16th. BidaskClub upgraded Broadcom from a “sell” rating to a “hold” rating in a report on Wednesday, August 29th. KeyCorp lowered their price target on Broadcom from $325.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, July 25th. Zacks Investment Research upgraded Broadcom from a “sell” rating to a “hold” rating in a report on Monday, June 4th. Finally, ValuEngine downgraded Broadcom from a “sell” rating to a “strong sell” rating in a report on Thursday, July 12th.

In related news, SVP Bryan Ingram sold 20,000 shares of Broadcom stock in a transaction on Wednesday, July 11th. The stock was sold at an average price of $245.62, for a total transaction of $4,912,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 100,000 shares of company stock valued at $22,850,600. Insiders own 3.30% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVGO. Massey Quick Simon & CO. LLC acquired a new stake in shares of Broadcom in the second quarter worth about $104,000. Zions Bancorporation acquired a new stake in shares of Broadcom in the second quarter worth about $109,000. MUFG Americas Holdings Corp acquired a new stake in shares of Broadcom in the second quarter worth about $109,000. MUFG Securities EMEA plc acquired a new stake in shares of Broadcom in the second quarter worth about $117,000. Finally, First Personal Financial Services acquired a new stake in shares of Broadcom in the second quarter worth about $126,000. 88.01% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ AVGO traded down $0.14 during mid-day trading on Wednesday, reaching $247.96. The company had a trading volume of 74,609 shares, compared to its average volume of 4,530,912. The company has a quick ratio of 3.42, a current ratio of 3.98 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $102.58 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 1.03 and a beta of 0.95. Broadcom has a 1-year low of $197.46 and a 1-year high of $285.68.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 6th. The semiconductor manufacturer reported $4.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.82 by $0.16. The business had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5.06 billion. Broadcom had a return on equity of 28.54% and a net margin of 58.18%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm posted $4.10 EPS. analysts anticipate that Broadcom will post 18.09 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Wednesday, September 19th will be given a dividend of $1.75 per share. The ex-dividend date is Tuesday, September 18th. This represents a $7.00 dividend on an annualized basis and a yield of 2.82%. Broadcom’s payout ratio is 48.95%.

About Broadcom

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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