Brokerages expect Broadcom Inc (NASDAQ:AVGO) to announce sales of $5.40 billion for the current quarter, Zacks Investment Research reports. Twelve analysts have made estimates for Broadcom’s earnings, with the lowest sales estimate coming in at $5.35 billion and the highest estimate coming in at $5.43 billion. Broadcom posted sales of $4.84 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.6%. The firm is scheduled to announce its next earnings report after the market closes on Thursday, December 6th.

According to Zacks, analysts expect that Broadcom will report full year sales of $20.99 billion for the current financial year, with estimates ranging from $20.76 billion to $23.11 billion. For the next fiscal year, analysts anticipate that the business will post sales of $21.86 billion, with estimates ranging from $19.89 billion to $24.15 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Broadcom.

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

A number of equities analysts recently weighed in on AVGO shares. BidaskClub downgraded shares of Broadcom from a “hold” rating to a “sell” rating in a report on Saturday, August 11th. Bank of America raised shares of Broadcom from a “neutral” rating to a “buy” rating in a report on Friday, September 7th. Craig Hallum reaffirmed a “buy” rating and set a $300.00 price objective (down from $330.00) on shares of Broadcom in a report on Friday, September 7th. B. Riley upped their price objective on shares of Broadcom from $245.00 to $250.00 and gave the company a “neutral” rating in a report on Friday, September 7th. Finally, Cowen upped their price objective on shares of Broadcom from $245.00 to $255.00 and gave the company an “outperform” rating in a report on Friday, September 7th. Nine analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $287.24.

In related news, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $238.62, for a total value of $4,772,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kirsten M. Spears sold 1,194 shares of the firm’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $246.52, for a total value of $294,344.88. The disclosure for this sale can be found here. Insiders sold 61,194 shares of company stock valued at $14,266,145 in the last ninety days. 3.30% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Broadcom in the second quarter worth $6,240,939,000. Capital International Investors raised its holdings in Broadcom by 504.1% in the third quarter. Capital International Investors now owns 27,509,769 shares of the semiconductor manufacturer’s stock worth $6,787,485,000 after purchasing an additional 22,955,578 shares in the last quarter. FMR LLC bought a new position in Broadcom in the second quarter worth $2,768,560,000. Northern Trust Corp bought a new position in shares of Broadcom during the second quarter valued at $1,142,053,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Broadcom during the second quarter valued at $1,127,357,000. 85.22% of the stock is owned by institutional investors.

Shares of NASDAQ:AVGO opened at $232.04 on Thursday. The company has a current ratio of 3.98, a quick ratio of 3.42 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $98.16 billion, a P/E ratio of 16.23, a P/E/G ratio of 1.04 and a beta of 1.03. Broadcom has a fifty-two week low of $197.46 and a fifty-two week high of $275.70.

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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Earnings History and Estimates for Broadcom (NASDAQ:AVGO)

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