Broadcom (NASDAQ:AVGO) had its price target raised by Cascend Securities from $300.00 to $330.00 in a research note published on Tuesday, Briefing.com Automated Import reports. Cascend Securities currently has a buy rating on the semiconductor manufacturer’s stock.

Several other brokerages have also issued reports on AVGO. Morgan Stanley cut their price objective on shares of Broadcom from $266.00 to $262.00 and set an equal weight rating on the stock in a report on Monday, June 10th. Robert W. Baird cut their price target on shares of Broadcom from $300.00 to $280.00 and set an outperform rating on the stock in a report on Monday, June 17th. Raymond James reaffirmed a hold rating on shares of Broadcom in a report on Friday, June 14th. Deutsche Bank cut their price target on shares of Broadcom from $330.00 to $315.00 and set a buy rating on the stock in a report on Friday, June 14th. Finally, Rosenblatt Securities reaffirmed a buy rating and issued a $350.00 price target on shares of Broadcom in a report on Monday, June 10th. Eleven analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $307.26.

AVGO stock traded down $12.88 during trading on Tuesday, hitting $287.70. 1,374,885 shares of the company’s stock traded hands, compared to its average volume of 1,782,592. The firm has a market capitalization of $117.21 billion, a P/E ratio of 15.28, a PEG ratio of 1.44 and a beta of 0.88. The business has a fifty day simple moving average of $283.11 and a two-hundred day simple moving average of $286.75. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 1.53. Broadcom has a 1 year low of $208.23 and a 1 year high of $323.20.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 12th. The semiconductor manufacturer reported $3.99 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.10 by ($0.11). The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.52 billion. Broadcom had a net margin of 15.92% and a return on equity of 32.81%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $4.98 earnings per share. On average, equities research analysts predict that Broadcom will post 17.23 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 23rd will be paid a dividend of $2.65 per share. This represents a $10.60 annualized dividend and a dividend yield of 3.68%. Broadcom’s payout ratio is currently 56.29%.

In other news, SVP Bryan Ingram sold 13,466 shares of Broadcom stock in a transaction on Wednesday, June 19th. The shares were sold at an average price of $278.78, for a total transaction of $3,754,051.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction on Monday, June 17th. The stock was sold at an average price of $264.00, for a total transaction of $5,280,000.00. The disclosure for this sale can be found here. Insiders have sold 85,388 shares of company stock valued at $23,607,682 over the last quarter. Insiders own 3.30% of the company’s stock.

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Broadcom by 1.8% during the second quarter. Vanguard Group Inc. now owns 31,797,832 shares of the semiconductor manufacturer’s stock valued at $9,153,324,000 after purchasing an additional 559,961 shares during the period. BlackRock Inc. lifted its position in Broadcom by 0.4% during the second quarter. BlackRock Inc. now owns 25,780,514 shares of the semiconductor manufacturer’s stock valued at $7,421,177,000 after purchasing an additional 105,186 shares during the period. Northern Trust Corp lifted its position in Broadcom by 1.1% during the second quarter. Northern Trust Corp now owns 4,971,618 shares of the semiconductor manufacturer’s stock valued at $1,431,130,000 after purchasing an additional 52,034 shares during the period. Bank of New York Mellon Corp lifted its position in Broadcom by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 4,120,427 shares of the semiconductor manufacturer’s stock valued at $1,186,106,000 after purchasing an additional 88,958 shares during the period. Finally, Jennison Associates LLC lifted its position in Broadcom by 10.9% during 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 during the period. Institutional investors and hedge funds own 84.63% 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.

Read More: Stocks Increasing Dividends

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.