Broadcom (NASDAQ:AVGO) had its price objective trimmed by Deutsche Bank from $330.00 to $315.00 in a research note released on Friday, BenzingaRatingsTable reports. The firm currently has a buy rating on the semiconductor manufacturer’s stock.

A number of other research analysts also recently commented on AVGO. Piper Jaffray Companies reiterated an overweight rating and set a $310.00 target price on shares of Broadcom in a research report on Thursday, February 14th. Cowen lowered Broadcom from an outperform rating to a market perform rating and set a $280.00 price target on the stock. in a report on Friday, February 22nd. BidaskClub lowered Broadcom from a strong-buy rating to a buy rating in a report on Saturday, March 9th. Mizuho increased their price target on Broadcom from $295.00 to $305.00 and gave the company a buy rating in a report on Friday, March 15th. Finally, Barclays increased their price target on Broadcom from $265.00 to $275.00 and gave the company an overweight rating in a report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-nine have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $299.32.

AVGO stock opened at $265.93 on Friday. Broadcom has a 1-year low of $197.46 and a 1-year high of $323.20. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $111.47 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 1.27 and a beta of 0.87.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.18 by $0.03. Broadcom had a return on equity of 31.66% and a net margin of 15.92%. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the prior year, the company posted $4.88 EPS. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, sell-side analysts expect that Broadcom will post 17.55 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Monday, June 24th will be paid a $2.65 dividend. This represents a $10.60 dividend on an annualized basis and a yield of 3.99%. Broadcom’s payout ratio is 56.29%.

In other Broadcom news, SVP Charlie B. Kawwas sold 9,330 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $295.93, for a total value of $2,761,026.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $315.07, for a total value of $6,301,400.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,824 shares of company stock worth $20,565,519. Insiders own 3.30% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in AVGO. AlphaOne Investment Services LLC purchased a new stake in Broadcom in the fourth quarter worth $25,000. First Financial Corp IN purchased a new position in shares of Broadcom during the first quarter valued at $30,000. Daiwa SB Investments Ltd. purchased a new position in shares of Broadcom during the first quarter valued at $30,000. CX Institutional increased its stake in shares of Broadcom by 555.6% during the first quarter. CX Institutional now owns 118 shares of the semiconductor manufacturer’s stock valued at $35,000 after buying an additional 100 shares during the period. Finally, Karp Capital Management Corp purchased a new position in shares of Broadcom during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 84.42% of the company’s stock.

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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