Loop Capital cut shares of Broadcom (NASDAQ:AVGO) from a buy rating to a hold rating in a research report released on Friday, Briefing.com Automated Import reports.

Several other research firms have also weighed in on AVGO. BMO Capital Markets reduced their price objective on shares of Broadcom from $270.00 to $260.00 and set a market perform rating on the stock in a research note on Friday, June 14th. Charter Equity lowered shares of Broadcom from a buy rating to a market perform rating and set a $254.00 price objective on the stock. in a research note on Friday, June 14th. JPMorgan Chase & Co. reduced their price objective on shares of Broadcom from $365.00 to $350.00 and set an overweight rating on the stock in a research note on Friday, June 14th. Summit Redstone raised shares of Broadcom to a buy rating in a research note on Friday, June 14th. Finally, KeyCorp lifted their price target on shares of Broadcom from $310.00 to $330.00 and gave the company an overweight rating in a research note on Friday, August 9th. Ten equities research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $311.71.

Broadcom stock opened at $288.66 on Friday. The company’s 50 day simple moving average is $282.27 and its 200 day simple moving average is $287.04. Broadcom has a fifty-two week low of $208.23 and a fifty-two week high of $323.20. The firm has a market capitalization of $119.65 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 1.47 and a beta of 0.88. 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 released its quarterly earnings data on Thursday, September 12th. The semiconductor manufacturer reported $3.99 earnings per share for the quarter, missing the consensus estimate of $4.10 by ($0.11). Broadcom had a return on equity of 33.21% and a net margin of 13.44%. The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the previous year, the business earned $4.98 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. As a group, analysts predict that Broadcom will post 17.23 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 23rd will be given a $2.65 dividend. This represents a $10.60 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Friday, September 20th. Broadcom’s dividend payout ratio is presently 56.29%.

In other news, SVP Bryan Ingram sold 11,922 shares of the business’s 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 20,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $270.46, for a total transaction of $5,409,200.00. The disclosure for this sale can be found here. In the last three months, insiders sold 65,388 shares of company stock worth $18,327,682. 3.30% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Princeton Global Asset Management LLC lifted its position in shares of Broadcom by 3.6% in the second quarter. Princeton Global Asset Management LLC now owns 13,326 shares of the semiconductor manufacturer’s stock worth $3,836,000 after purchasing an additional 467 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Broadcom by 12.8% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 116,637 shares of the semiconductor manufacturer’s stock worth $33,575,000 after purchasing an additional 13,251 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Broadcom in the second quarter worth $545,000. Hancock Whitney Corp lifted its position in shares of Broadcom by 4.6% in the second quarter. Hancock Whitney Corp now owns 11,835 shares of the semiconductor manufacturer’s stock worth $3,406,000 after purchasing an additional 516 shares in the last quarter. Finally, Front Row Advisors LLC lifted its position in shares of Broadcom by 8.4% in the second quarter. Front Row Advisors LLC now owns 5,122 shares of the semiconductor manufacturer’s stock worth $1,488,000 after purchasing an additional 395 shares in the last quarter. 84.57% of the stock is currently owned by institutional investors and hedge funds.

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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