Broadcom (NASDAQ:AVGO) PT Raised to $800.00

Broadcom (NASDAQ:AVGO – Get Rating) had its target price raised by Bank of America from $725.00 to $800.00 in a research note released on Tuesday, The Fly reports.

Other equities analysts also recently issued reports about the stock. StockNews.com started coverage on shares of Broadcom in a research note on Thursday, May 18th. They set a buy rating on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on Broadcom from $590.00 to $675.00 and gave the stock a buy rating in a research report on Friday, March 3rd. KeyCorp boosted their price target on Broadcom from $700.00 to $720.00 and gave the stock an overweight rating in a research report on Friday, March 3rd. Susquehanna reissued a positive rating and issued a $690.00 price target on shares of Broadcom in a research report on Thursday, March 9th. Finally, Benchmark assumed coverage on shares of Broadcom in a report on Wednesday, April 12th. They issued a buy rating and a $770.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $683.16.

Broadcom Stock Up 1.2 %

Shares of NASDAQ AVGO opened at $686.50 on Tuesday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 2.26 and a current ratio of 2.52. The firm has a market capitalization of $286.22 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 1.40 and a beta of 1.10. The stock has a 50 day moving average price of $633.42 and a 200 day moving average price of $590.33. Broadcom has a 52-week low of $415.07 and a 52-week high of $698.99.

Broadcom (NASDAQ:AVGO – Get Rating) last released its quarterly earnings data on Thursday, March 2nd. The semiconductor manufacturer reported $10.33 earnings per share for the quarter, beating the consensus estimate of $9.38 by $0.95. The firm had revenue of $8.92 billion during the quarter, compared to the consensus estimate of $8.90 billion. Broadcom had a return on equity of 73.52% and a net margin of 37.19%. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the previous year, the company posted $7.68 earnings per share. Sell-side analysts expect that Broadcom will post 38.22 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Wednesday, March 22nd were given a dividend of $4.60 per share. The ex-dividend date of this dividend was Tuesday, March 21st. This represents a $18.40 dividend on an annualized basis and a yield of 2.68%. Broadcom’s dividend payout ratio is currently 61.93%.

Insider Buying and Selling

In related news, Director Eddy W. Hartenstein sold 3,175 shares of the stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $625.01, for a total value of $1,984,406.75. Following the transaction, the director now owns 9,734 shares in the company, valued at approximately $6,083,847.34. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Eddy W. Hartenstein sold 3,175 shares of the business’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $625.01, for a total transaction of $1,984,406.75. Following the completion of the transaction, the director now directly owns 9,734 shares in the company, valued at $6,083,847.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hock E. Tan sold 30,000 shares of the business’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $626.04, for a total transaction of $18,781,200.00. Following the transaction, the chief executive officer now owns 214,514 shares of the company’s stock, valued at $134,294,344.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,915 shares of company stock worth $25,576,507. 2.20% of the stock is owned by company insiders.

Institutional Trading of Broadcom

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rosenberg Matthew Hamilton grew its position in shares of Broadcom by 3.1% in the 1st quarter. Rosenberg Matthew Hamilton now owns 531 shares of the semiconductor manufacturer’s stock worth $341,000 after acquiring an additional 16 shares in the last quarter. Silver Oak Securities Incorporated grew its position in shares of Broadcom by 2.9% in the 1st quarter. Silver Oak Securities Incorporated now owns 572 shares of the semiconductor manufacturer’s stock worth $367,000 after acquiring an additional 16 shares in the last quarter. ETF Managers Group LLC raised its holdings in shares of Broadcom by 1.5% during the first quarter. ETF Managers Group LLC now owns 1,164 shares of the semiconductor manufacturer’s stock worth $747,000 after purchasing an additional 17 shares during the period. Comprehensive Financial Consultants Institutional Inc. raised its holdings in shares of Broadcom by 0.5% during the first quarter. Comprehensive Financial Consultants Institutional Inc. now owns 3,125 shares of the semiconductor manufacturer’s stock worth $2,005,000 after purchasing an additional 17 shares during the period. Finally, Park Place Capital Corp raised its holdings in shares of Broadcom by 2.7% during the first quarter. Park Place Capital Corp now owns 636 shares of the semiconductor manufacturer’s stock worth $408,000 after purchasing an additional 17 shares during the period. 81.28% of the stock is owned by institutional investors and hedge funds.

About Broadcom

(Get Rating)

Broadcom Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.