Broadcom Limited (AVGO) Expected to Post Earnings of $3.49 Per Share
Equities analysts expect that Broadcom Limited (NASDAQ:AVGO) will report earnings per share of $3.49 for the current fiscal quarter, Zacks reports. Ten analysts have made estimates for Broadcom Limited’s earnings, with the lowest EPS estimate coming in at $3.46 and the highest estimate coming in at $3.57. Broadcom Limited posted earnings of $2.47 per share during the same quarter last year, which would indicate a positive year over year growth rate of 41.3%. The business is expected to announce its next quarterly earnings results on Thursday, September 7th.
According to Zacks, analysts expect that Broadcom Limited will report full year earnings of $13.73 per share for the current fiscal year, with EPS estimates ranging from $13.40 to $13.94. For the next year, analysts forecast that the business will post earnings of $14.94 per share, with EPS estimates ranging from $14.50 to $15.41. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow Broadcom Limited.
Broadcom Limited (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 EPS for the quarter, beating the consensus estimate of $3.50 by $0.19. Broadcom Limited had a negative net margin of 1.54% and a positive return on equity of 24.15%. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same period in the prior year, the company earned $2.53 earnings per share. The firm’s revenue was up 17.9% on a year-over-year basis.
AVGO has been the topic of several analyst reports. Royal Bank Of Canada reaffirmed a “top pick” rating and issued a $230.00 target price (up previously from $225.00) on shares of Broadcom Limited in a report on Tuesday, February 21st. Rosenblatt Securities initiated coverage on shares of Broadcom Limited in a report on Wednesday, February 22nd. They issued a “buy” rating and a $250.00 target price on the stock. MKM Partners reissued a “buy” rating and set a $240.00 price objective on shares of Broadcom Limited in a report on Wednesday, February 22nd. Sanford C. Bernstein reissued an “outperform” rating and set a $250.00 price objective on shares of Broadcom Limited in a report on Wednesday, February 22nd. Finally, Instinet boosted their price objective on shares of Broadcom Limited from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, February 27th. Two research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and two have issued a strong buy rating to the company. Broadcom Limited has an average rating of “Buy” and an average price target of $255.72.
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Broadcom Limited (AVGO) traded up 2.0614% during midday trading on Monday, reaching $241.1201. 1,539,638 shares of the company’s stock traded hands. The company’s market capitalization is $98.04 billion. Broadcom Limited has a 1-year low of $142.27 and a 1-year high of $256.78. The firm’s 50 day moving average price is $237.17 and its 200-day moving average price is $210.31.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Monday, June 19th will be paid a dividend of $1.02 per share. The ex-dividend date is Thursday, June 15th. This represents a $4.08 dividend on an annualized basis and a yield of 1.73%. Broadcom Limited’s dividend payout ratio (DPR) is -566.66%.
In other Broadcom Limited news, VP Patricia H. Mccall sold 10,000 shares of the stock in a transaction on Tuesday, March 28th. The shares were sold at an average price of $221.50, for a total transaction of $2,215,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kirsten M. Spears sold 1,306 shares of the stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $254.15, for a total transaction of $331,919.90. The disclosure for this sale can be found here. Insiders have sold a total of 45,704 shares of company stock worth $11,112,822 over the last quarter. 3.60% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Broadcom Limited by 2,707.3% in the first quarter. BlackRock Inc. now owns 23,131,935 shares of the semiconductor manufacturer’s stock worth $5,064,971,000 after buying an additional 22,307,935 shares during the period. Jennison Associates LLC boosted its stake in shares of Broadcom Limited by 904.2% in the first quarter. Jennison Associates LLC now owns 4,201,357 shares of the semiconductor manufacturer’s stock worth $919,929,000 after buying an additional 3,782,991 shares during the period. Norges Bank acquired a new stake in shares of Broadcom Limited during the fourth quarter worth $589,052,000. Vanguard Group Inc. boosted its stake in shares of Broadcom Limited by 7.0% in the first quarter. Vanguard Group Inc. now owns 26,768,435 shares of the semiconductor manufacturer’s stock worth $5,861,217,000 after buying an additional 1,746,144 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Broadcom Limited by 29.3% in the first quarter. Wellington Management Group LLP now owns 6,710,760 shares of the semiconductor manufacturer’s stock worth $1,469,388,000 after buying an additional 1,519,598 shares during the period. 90.85% of the stock is currently owned by institutional investors.
About Broadcom Limited
Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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