BidaskClub lowered shares of Broadcom (NASDAQ:AVGO) from a buy rating to a hold rating in a research note published on Tuesday morning, BidAskClub reports.

AVGO has been the subject of a number of other reports. Summit Redstone raised Broadcom to a buy rating in a report on Friday, June 14th. Charter Equity lowered Broadcom from a buy rating to a market perform rating and set a $254.00 price objective for the company. in a report on Friday, June 14th. Craig Hallum reissued a buy rating and issued a $315.00 price objective (down from $325.00) on shares of Broadcom in a report on Friday, June 14th. Wells Fargo & Co reissued a hold rating on shares of Broadcom in a report on Friday, March 15th. Finally, Jefferies Financial Group set a €110.00 ($127.91) price objective on Airbus and gave the stock a buy rating in a report on Friday, June 14th. Ten investment analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company’s stock. Broadcom has an average rating of Buy and an average target price of $298.56.

Shares of AVGO stock opened at $285.39 on Tuesday. Broadcom has a 12-month low of $200.53 and a 12-month high of $323.20. The company has a market cap of $113.61 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 1.35 and a beta of 0.94. The business has a 50 day simple moving average of $273.07. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.26 and a quick ratio of 1.13.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.03. Broadcom had a return on equity of 32.81% and a net margin of 15.92%. The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the company posted $4.88 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, sell-side analysts forecast that Broadcom will post 17.3 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Monday, June 24th were given a dividend of $2.65 per share. The ex-dividend date was Friday, June 21st. This represents a $10.60 dividend on an annualized basis and a dividend yield of 3.71%. Broadcom’s dividend payout ratio (DPR) is presently 56.29%.

In other news, insider Hock E. Tan sold 20,000 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $264.00, for a total value of $5,280,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Bryan Ingram sold 11,922 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $278.58, for a total value of $3,321,230.76. The disclosure for this sale can be found here. Insiders have sold a total of 65,388 shares of company stock valued at $18,656,682 in the last quarter. Insiders own 3.30% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVGO. Norges Bank purchased a new stake in shares of Broadcom in the fourth quarter valued at $1,055,582,000. FMR LLC lifted its holdings in shares of Broadcom by 3.8% in the fourth quarter. FMR LLC now owns 10,192,760 shares of the semiconductor manufacturer’s stock valued at $2,591,815,000 after purchasing an additional 374,911 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Broadcom by 10.9% in the first quarter. Jennison Associates LLC now owns 3,650,806 shares of the semiconductor manufacturer’s stock valued at $1,097,834,000 after purchasing an additional 359,736 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Broadcom by 123.3% in the first quarter. SG Americas Securities LLC now owns 59,322 shares of the semiconductor manufacturer’s stock valued at $17,839,000 after purchasing an additional 314,335 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Broadcom by 24.9% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,484,894 shares of the semiconductor manufacturer’s stock valued at $377,579,000 after purchasing an additional 296,309 shares in the last quarter. Institutional investors own 83.91% 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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