Broadcom (NASDAQ:AVGO) had its target price cut by Morgan Stanley from $265.00 to $261.00 in a report published on Monday morning. They currently have an equal weight rating on the semiconductor manufacturer’s stock.

Other equities analysts also recently issued reports about the stock. Mizuho reaffirmed a buy rating on shares of Broadcom in a research note on Friday, October 5th. Piper Jaffray Companies set a $293.00 target price on shares of Broadcom and gave the stock a buy rating in a research note on Tuesday, September 25th. BidaskClub raised shares of Broadcom from a hold rating to a buy rating in a research note on Friday, September 21st. Nomura raised shares of Broadcom from a neutral rating to a buy rating and boosted their target price for the stock from $225.00 to $300.00 in a research note on Monday, September 17th. Finally, Zacks Investment Research raised shares of Broadcom from a hold rating to a buy rating and set a $260.00 target price for the company in a research note on Tuesday, September 11th. Nine investment analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the company’s stock. Broadcom has an average rating of Buy and a consensus price target of $288.93.

NASDAQ:AVGO opened at $246.64 on Monday. The stock has a market capitalization of $94.99 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 1.05 and a beta of 0.73. Broadcom has a 12 month low of $197.46 and a 12 month high of $273.85. The company has a current ratio of 3.90, a quick ratio of 3.41 and a debt-to-equity ratio of 0.66.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 EPS for the quarter, beating the Zacks’ consensus estimate of $5.58 by $0.27. Broadcom had a net margin of 58.80% and a return on equity of 29.03%. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the business earned $4.59 earnings per share. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. Research analysts predict that Broadcom will post 18.59 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 28th. Investors of record on Wednesday, December 19th were issued a dividend of $2.65 per share. The ex-dividend date was Tuesday, December 18th. This represents a $10.60 dividend on an annualized basis and a yield of 4.30%. This is a boost from Broadcom’s previous quarterly dividend of $1.75. Broadcom’s payout ratio is currently 56.29%.

In other news, CFO Thomas H. Krause sold 22,500 shares of the company’s stock in a transaction that occurred on Thursday, December 13th. The shares were sold at an average price of $257.08, for a total value of $5,784,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Donald Macleod sold 5,223 shares of the company’s stock in a transaction that occurred on Monday, January 7th. The shares were sold at an average price of $233.65, for a total transaction of $1,220,353.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,723 shares of company stock valued at $24,446,974. Corporate insiders own 3.30% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in AVGO. Vanguard Group Inc. boosted its holdings in Broadcom by 6.6% during the third quarter. Vanguard Group Inc. now owns 33,632,811 shares of the semiconductor manufacturer’s stock worth $8,298,223,000 after purchasing an additional 2,094,847 shares during the last quarter. Vanguard Group Inc boosted its holdings in Broadcom by 6.6% during the third quarter. Vanguard Group Inc now owns 33,632,811 shares of the semiconductor manufacturer’s stock worth $8,298,223,000 after purchasing an additional 2,094,847 shares during the last quarter. Capital International Investors boosted its holdings in Broadcom by 504.1% during the third quarter. Capital International Investors now owns 27,509,769 shares of the semiconductor manufacturer’s stock worth $6,787,485,000 after purchasing an additional 22,955,578 shares during the last quarter. BlackRock Inc. boosted its holdings in Broadcom by 0.8% during the third quarter. BlackRock Inc. now owns 25,930,258 shares of the semiconductor manufacturer’s stock worth $6,397,772,000 after purchasing an additional 209,280 shares during the last quarter. Finally, Capital Research Global Investors boosted its holdings in Broadcom by 16.3% during the third quarter. Capital Research Global Investors now owns 25,694,725 shares of the semiconductor manufacturer’s stock worth $6,339,659,000 after purchasing an additional 3,608,395 shares during the last quarter. Institutional investors own 86.37% 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 Does Beta Mean In Stock Selection

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.