BidaskClub downgraded shares of Broadcom (NASDAQ:AVGO) from a buy rating to a hold rating in a research report report published on Saturday, BidAskClub reports.

A number of other brokerages have also issued reports on AVGO. BMO Capital Markets increased their target price on shares of Broadcom from $310.00 to $330.00 and gave the company a market perform rating in a research report on Friday, December 13th. Susquehanna Bancshares reiterated a buy rating and issued a $345.00 target price on shares of Broadcom in a research report on Wednesday, December 11th. Craig Hallum reiterated a buy rating and issued a $385.00 target price (up previously from $330.00) on shares of Broadcom in a research report on Friday, December 13th. SunTrust Banks set a $322.00 price target on shares of Broadcom and gave the company a buy rating in a report on Friday, September 27th. Finally, KeyCorp upped their price target on shares of Broadcom from $340.00 to $360.00 and gave the company an overweight rating in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the stock. Broadcom has a consensus rating of Buy and a consensus target price of $333.23.

Shares of AVGO opened at $308.07 on Friday. The firm has a 50-day moving average price of $313.90 and a 200 day moving average price of $295.61. The firm has a market capitalization of $122.83 billion, a PE ratio of 47.84, a P/E/G ratio of 1.50 and a beta of 0.90. The company has a quick ratio of 1.31, a current ratio of 1.44 and a debt-to-equity ratio of 1.58. Broadcom has a 52-week low of $250.09 and a 52-week high of $331.20.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $5.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.35 by $0.04. The firm had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.74 billion. Broadcom had a net margin of 12.06% and a return on equity of 46.16%. Broadcom’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.85 EPS. On average, equities analysts expect that Broadcom will post 19.22 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $3.25 per share. The ex-dividend date was Friday, December 20th. This is a positive change from Broadcom’s previous quarterly dividend of $2.65. This represents a $13.00 dividend on an annualized basis and a yield of 4.22%. Broadcom’s dividend payout ratio is currently 74.67%.

In other Broadcom news, CEO Hock E. Tan sold 75,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $311.02, for a total transaction of $23,326,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hock E. Tan sold 20,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.56, for a total transaction of $6,291,200.00. Insiders have sold 188,646 shares of company stock valued at $58,355,351 over the last ninety days. Insiders own 3.30% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. LVW Advisors LLC lifted its stake in Broadcom by 13.5% during the third quarter. LVW Advisors LLC now owns 1,301 shares of the semiconductor manufacturer’s stock valued at $359,000 after buying an additional 155 shares in the last quarter. Covington Capital Management lifted its position in shares of Broadcom by 14.3% in the second quarter. Covington Capital Management now owns 25,500 shares of the semiconductor manufacturer’s stock worth $7,340,000 after purchasing an additional 3,200 shares in the last quarter. Boston Trust Walden Corp lifted its position in shares of Broadcom by 28.1% in the third quarter. Boston Trust Walden Corp now owns 2,206 shares of the semiconductor manufacturer’s stock worth $609,000 after purchasing an additional 484 shares in the last quarter. HBK Sorce Advisory LLC lifted its position in shares of Broadcom by 4.9% in the second quarter. HBK Sorce Advisory LLC now owns 3,291 shares of the semiconductor manufacturer’s stock worth $948,000 after purchasing an additional 154 shares in the last quarter. Finally, IHT Wealth Management LLC lifted its position in shares of Broadcom by 16.8% in the third quarter. IHT Wealth Management LLC now owns 3,359 shares of the semiconductor manufacturer’s stock worth $927,000 after purchasing an additional 484 shares in the last quarter. 83.19% of the stock is owned by institutional investors.

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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