Broadcom (NASDAQ:AVGO) had its price target reduced by Jefferies Financial Group from $370.00 to $324.00 in a research note issued to investors on Friday, The Fly reports. Jefferies Financial Group currently has a buy rating on the semiconductor manufacturer’s stock.

A number of other equities analysts have also issued reports on the stock. Craig Hallum reissued a buy rating and set a $315.00 price target (down from $325.00) on shares of Broadcom in a research report on Friday. Charter Equity lowered shares of Broadcom from a buy rating to a market perform rating and set a $254.00 price target for the company. in a research report on Friday. KeyCorp reduced their price target on shares of Broadcom from $350.00 to $310.00 and set an overweight rating for the company in a research report on Friday. Barclays reduced their price target on shares of Broadcom from $360.00 to $315.00 and set an overweight rating for the company in a research report on Friday. Finally, Summit Insights raised shares of Broadcom from a hold rating to a buy rating and set a $253.03 price target for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Broadcom has a consensus rating of Buy and a consensus target price of $299.32.

AVGO opened at $265.93 on Friday. Broadcom has a 12-month low of $197.46 and a 12-month 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 cap 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 (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $5.70 billion. During the same period last year, the firm posted $4.88 EPS. Broadcom’s revenue for the quarter was up 10.0% compared to the same quarter last year. Analysts expect that Broadcom will post 17.55 EPS for the current year.

The company 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 dividend of $2.65 per share. This represents a $10.60 annualized dividend and a dividend yield of 3.99%. Broadcom’s dividend payout ratio (DPR) is 56.29%.

In other news, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $315.07, for a total transaction of $6,301,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kirsten M. Spears sold 4,000 shares of Broadcom stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $306.31, for a total transaction of $1,225,240.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,824 shares of company stock valued at $20,565,519. Insiders own 3.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Outlook Wealth Advisors LLC increased its holdings in Broadcom by 773.5% in the 1st quarter. Outlook Wealth Advisors LLC now owns 856 shares of the semiconductor manufacturer’s stock worth $257,000 after acquiring an additional 758 shares in the last quarter. Gateway Investment Advisers LLC increased its holdings in Broadcom by 177.0% in the 1st quarter. Gateway Investment Advisers LLC now owns 136,598 shares of the semiconductor manufacturer’s stock worth $41,076,000 after acquiring an additional 87,288 shares in the last quarter. National Pension Service increased its holdings in Broadcom by 6.0% in the 4th quarter. National Pension Service now owns 394,048 shares of the semiconductor manufacturer’s stock worth $110,925,000 after acquiring an additional 22,223 shares in the last quarter. Pensionmark Financial Group LLC purchased a new stake in Broadcom in the 4th quarter worth $336,000. Finally, Highstreet Asset Management Inc. increased its holdings in Broadcom by 40.1% in the 4th quarter. Highstreet Asset Management Inc. now owns 11,438 shares of the semiconductor manufacturer’s stock worth $2,908,000 after acquiring an additional 3,276 shares in the last quarter. 84.42% 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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The Fly

Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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