Broadcom Ltd (AVGO) Given “Buy” Rating at Brean Capital
Broadcom Ltd (NASDAQ:AVGO)‘s stock had its “buy” rating reissued by equities researchers at Brean Capital in a note issued to investors on Wednesday.
Other research analysts have also issued research reports about the stock. Mizuho raised their price objective on shares of Broadcom from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, June 3rd. Goldman Sachs Group Inc. raised their price objective on shares of Broadcom from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, June 3rd. Oppenheimer Holdings Inc. reiterated a “buy” rating and set a $180.00 price objective (up previously from $170.00) on shares of Broadcom in a research note on Thursday, June 2nd. B. Riley raised their target price on shares of Broadcom from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, June 3rd. Finally, Vetr upgraded shares of Broadcom from a “hold” rating to a “buy” rating and set a $162.73 target price for the company in a report on Thursday, June 2nd. Two analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and three have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $194.64.
Shares of Broadcom (NASDAQ:AVGO) traded up 0.30% on Wednesday, reaching $168.73. The company’s stock had a trading volume of 426,372 shares. The stock’s market capitalization is $67.04 billion. Broadcom has a 1-year low of $111.53 and a 1-year high of $179.42. The stock has a 50-day moving average of $171.54 and a 200 day moving average of $157.92.
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Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 1st. The semiconductor manufacturer reported $2.89 EPS for the quarter, beating the Zacks’ consensus estimate of $2.77 by $0.12. Broadcom had a negative net margin of 6.20% and a positive return on equity of 25.06%. The business had revenue of $3.80 billion for the quarter. During the same quarter in the prior year, the business earned $2.24 EPS. Broadcom’s revenue was up 117.3% compared to the same quarter last year. On average, equities analysts forecast that Broadcom will post $11.24 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 19th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This is an increase from Broadcom’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.21%. Broadcom’s payout ratio is currently -208.16%.
In related news, SVP Bryan Ingram sold 31,488 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $169.27, for a total transaction of $5,329,973.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Patricia H. Mccall sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $154.37, for a total transaction of $1,234,960.00. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of AVGO. Hollencrest Securities LLC increased its stake in Broadcom by 1.2% in the second quarter. Hollencrest Securities LLC now owns 1,324 shares of the semiconductor manufacturer’s stock worth $206,000 after buying an additional 16 shares during the period. Tealwood Asset Management Inc. increased its stake in Broadcom by 0.4% in the second quarter. Tealwood Asset Management Inc. now owns 16,500 shares of the semiconductor manufacturer’s stock worth $2,564,000 after buying an additional 60 shares during the period. Addenda Capital Inc. increased its stake in Broadcom by 0.3% in the first quarter. Addenda Capital Inc. now owns 56,131 shares of the semiconductor manufacturer’s stock worth $8,673,000 after buying an additional 166 shares during the period. Guardian Life Insurance Co of America increased its stake in Broadcom by 15.7% in the first quarter. Guardian Life Insurance Co of America now owns 1,439 shares of the semiconductor manufacturer’s stock worth $222,000 after buying an additional 195 shares during the period. Finally, Investment Centers of America Inc. increased its stake in Broadcom by 7.2% in the first quarter. Investment Centers of America Inc. now owns 3,264 shares of the semiconductor manufacturer’s stock worth $500,000 after buying an additional 218 shares during the period. 91.45% of the stock is owned by institutional investors and hedge funds.
Broadcom Company Profile
Broadcom Limited is a semiconductor company. The Company offers a range of products in end-markets, including wired infrastructure, wireless communications, enterprise storage, and industrial and others. The Company’s products are used in various applications, including data center networking, home connectivity, broadband access, telecommunications equipment, smartphones and base stations, data center servers and storage, factory automation, power generation and alternative energy systems, and displays.
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