Broadcom Limited (AVGO) Given Consensus Recommendation of “Buy” by Analysts
Shares of Broadcom Limited (NASDAQ:AVGO) have received a consensus recommendation of “Buy” from the thirty-seven brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $274.45.
A number of equities analysts recently weighed in on the stock. B. Riley reiterated a “buy” rating and issued a $305.00 price objective on shares of Broadcom Limited in a research report on Tuesday, May 30th. UBS AG restated a “buy” rating and set a $265.00 target price (up from $245.00) on shares of Broadcom Limited in a research report on Monday, June 5th. Cowen and Company reaffirmed a “buy” rating and set a $260.00 price target on shares of Broadcom Limited in a research note on Friday, August 11th. Pacific Crest reaffirmed an “overweight” rating and set a $280.00 price target on shares of Broadcom Limited in a research note on Wednesday, June 21st. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $290.00 price target (up previously from $260.00) on shares of Broadcom Limited in a research note on Friday, August 25th.
Broadcom Limited (NASDAQ:AVGO) traded down 0.99% during mid-day trading on Friday, reaching $244.11. 1,810,040 shares of the company’s stock traded hands. Broadcom Limited has a 52 week low of $158.75 and a 52 week high of $259.36. The stock has a market capitalization of $99.35 billion, a PE ratio of 185.92 and a beta of 1.07. The stock’s 50 day moving average is $249.89 and its 200-day moving average is $234.79.
Broadcom Limited (NASDAQ:AVGO) last announced its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.07. The business had revenue of $4.47 billion for the quarter, compared to analysts’ expectations of $4.46 billion. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.89 EPS. On average, equities analysts anticipate that Broadcom Limited will post $15.92 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, September 18th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.67%. Broadcom Limited’s dividend payout ratio (DPR) is currently 348.72%.
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In related news, SVP Bryan Ingram sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $244.59, for a total transaction of $2,445,900.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 3.60% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the business. Intl Fcstone Inc. acquired a new stake in shares of Broadcom Limited in the 2nd quarter valued at $1,104,000. Achmea Investment Management B.V. lifted its stake in shares of Broadcom Limited by 19.2% in the 2nd quarter. Achmea Investment Management B.V. now owns 14,964 shares of the semiconductor manufacturer’s stock valued at $3,485,000 after acquiring an additional 2,412 shares during the last quarter. USA Financial Portformulas Corp bought a new position in shares of Broadcom Limited in the 2nd quarter valued at $6,621,000. Sentry Investment Management LLC lifted its stake in shares of Broadcom Limited by 1.1% in the 2nd quarter. Sentry Investment Management LLC now owns 31,719 shares of the semiconductor manufacturer’s stock valued at $7,392,000 after acquiring an additional 333 shares during the last quarter. Finally, Toronto Dominion Bank lifted its stake in shares of Broadcom Limited by 10.3% in the 2nd quarter. Toronto Dominion Bank now owns 295,961 shares of the semiconductor manufacturer’s stock valued at $68,961,000 after acquiring an additional 27,726 shares during the last quarter. 90.04% of the stock is currently owned by hedge funds and other institutional investors.
Broadcom Limited Company Profile
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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