Broadcom (NASDAQ:AVGO) had its price target trimmed by KeyCorp from $350.00 to $310.00 in a report published on Friday, The Fly reports. The brokerage currently has an overweight rating on the semiconductor manufacturer’s stock.

AVGO has been the subject of a number of other reports. DA Davidson upped their price target on shares of Broadcom to $325.00 and gave the company a buy rating in a report on Friday, March 15th. Jefferies Financial Group upped their price target on shares of Broadcom from $314.00 to $341.00 and gave the company a buy rating in a report on Friday, March 15th. JPMorgan Chase & Co. upped their price target on shares of Broadcom from $325.00 to $365.00 in a report on Monday, March 18th. Morgan Stanley cut their price target on shares of Broadcom from $266.00 to $262.00 and set an equal weight rating for the company in a report on Monday, June 10th. Finally, Deutsche Bank upped their price target on shares of Broadcom from $300.00 to $330.00 and gave the company a buy rating in a report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-nine have assigned a buy rating to the stock. Broadcom has an average rating of Buy and an average target price of $299.32.

Shares of NASDAQ AVGO opened at $265.93 on Friday. Broadcom has a twelve month low of $197.46 and a twelve month high of $323.20. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.27 and a quick ratio of 1.14. The stock 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 issued its quarterly earnings results on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.18 by $0.03. Broadcom had a net margin of 15.92% and a return on equity of 31.66%. The company 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 earned $4.88 EPS. Broadcom’s revenue was up 10.0% on a year-over-year basis. On average, equities research analysts forecast that Broadcom will post 17.55 EPS for the current year.

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

In other news, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $315.07, for a total value of $6,301,400.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Charlie B. Kawwas sold 10,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $295.05, for a total value of $2,950,500.00. The disclosure for this sale can be found here. Insiders sold a total of 67,824 shares of company stock worth $20,565,519 in the last quarter. 3.30% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of AVGO. Brick & Kyle Associates increased its holdings in Broadcom by 3.9% in the first quarter. Brick & Kyle Associates now owns 1,335 shares of the semiconductor manufacturer’s stock worth $401,000 after buying an additional 50 shares during the last quarter. Belpointe Asset Management LLC increased its holdings in Broadcom by 2.0% in the first quarter. Belpointe Asset Management LLC now owns 3,318 shares of the semiconductor manufacturer’s stock worth $997,000 after buying an additional 64 shares during the last quarter. KCL Capital L.P. acquired a new position in Broadcom in the first quarter worth approximately $3,759,000. Financial Advisors Network Inc. acquired a new position in Broadcom in the first quarter worth approximately $303,000. Finally, Meridian Wealth Management LLC increased its holdings in Broadcom by 10.4% in the first quarter. Meridian Wealth Management LLC now owns 1,913 shares of the semiconductor manufacturer’s stock worth $575,000 after buying an additional 180 shares during the last quarter. Institutional investors own 84.42% 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.

See Also: What are municipal bonds?

The Fly

Analyst Recommendations for Broadcom (NASDAQ:AVGO)

Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.