Craig Hallum reiterated their buy rating on shares of Broadcom (NASDAQ:AVGO) in a research note released on Friday, MarketBeat reports. They currently have a $305.00 target price on the semiconductor manufacturer’s stock, up from their previous target price of $300.00.

A number of other analysts have also issued reports on AVGO. BidaskClub lowered Broadcom from a strong-buy rating to a buy rating in a report on Tuesday, December 4th. Zacks Investment Research upgraded Broadcom from a sell rating to a hold rating in a report on Wednesday, December 5th. Morgan Stanley reiterated an equal weight rating and issued a $260.00 price target on shares of Broadcom in a report on Wednesday, November 28th. Charter Equity upgraded Broadcom from a market perform rating to a buy rating in a report on Friday. Finally, BMO Capital Markets reiterated a hold rating and issued a $230.00 price target on shares of Broadcom in a report on Friday, September 7th. Nine research analysts have rated the stock with a hold rating and thirty-four have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $288.33.

Shares of NASDAQ AVGO opened at $239.25 on Friday. The company has a quick ratio of 3.41, a current ratio of 3.90 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $94.50 billion, a P/E ratio of 12.71, a PEG ratio of 0.98 and a beta of 1.02. Broadcom has a 52-week low of $197.46 and a 52-week high of $274.26.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.58 by $0.27. The firm had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.40 billion. Broadcom had a return on equity of 29.03% and a net margin of 58.80%. Broadcom’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.59 earnings per share. Analysts anticipate that Broadcom will post 18.45 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Wednesday, December 19th will be issued a dividend of $2.65 per share. The ex-dividend date is Tuesday, December 18th. This represents a $10.60 dividend on an annualized basis and a yield of 4.43%. This is a positive change from Broadcom’s previous quarterly dividend of $1.75. Broadcom’s dividend payout ratio is currently 37.17%.

In other news, insider Kirsten M. Spears sold 1,194 shares of the stock in a transaction on Friday, September 28th. The stock was sold at an average price of $246.52, for a total transaction of $294,344.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Hock E. Tan sold 20,000 shares of the stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $228.94, for a total value of $4,578,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,194 shares of company stock valued at $14,266,145. 3.30% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Broadcom by 6.6% during the 3rd quarter. Vanguard Group Inc. now owns 33,632,811 shares of the semiconductor manufacturer’s stock valued at $8,298,223,000 after purchasing an additional 2,094,847 shares during the last quarter. Capital International Investors lifted its holdings in shares of Broadcom by 504.1% during the 3rd quarter. Capital International Investors now owns 27,509,769 shares of the semiconductor manufacturer’s stock valued at $6,787,485,000 after purchasing an additional 22,955,578 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Broadcom by 0.8% during the 3rd quarter. BlackRock Inc. now owns 25,930,258 shares of the semiconductor manufacturer’s stock valued at $6,397,772,000 after purchasing an additional 209,280 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Broadcom by 16.3% during the 3rd quarter. Capital Research Global Investors now owns 25,694,725 shares of the semiconductor manufacturer’s stock valued at $6,339,659,000 after purchasing an additional 3,608,395 shares during the last quarter. Finally, FMR LLC purchased a new stake in shares of Broadcom during the 2nd quarter valued at $2,768,560,000. Hedge funds and other institutional investors own 85.22% 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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