Zacks: Brokerages Anticipate Broadcom Limited (AVGO) to Announce $4.49 Earnings Per Share
Equities research analysts expect that Broadcom Limited (NASDAQ:AVGO) will announce earnings of $4.49 per share for the current fiscal quarter, Zacks reports. Eleven analysts have provided estimates for Broadcom Limited’s earnings, with estimates ranging from $4.46 to $4.55. Broadcom Limited posted earnings of $3.47 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 29.4%. The firm is scheduled to report its next earnings report on Thursday, December 14th.
On average, analysts expect that Broadcom Limited will report full-year earnings of $15.92 per share for the current year, with EPS estimates ranging from $15.90 to $15.95. For the next year, analysts anticipate that the firm will post earnings of $17.57 per share, with EPS estimates ranging from $17.00 to $18.26. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that follow Broadcom Limited.
Broadcom Limited (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, beating the consensus estimate of $4.03 by $0.07. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The business had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the previous year, the business posted $2.89 EPS. The business’s quarterly revenue was up 17.5% compared to the same quarter last year.
Several equities research analysts have recently weighed in on the company. UBS AG reissued a “buy” rating and issued a $265.00 price objective (up from $245.00) on shares of Broadcom Limited in a report on Monday, June 5th. B. Riley reissued a “buy” rating and issued a $305.00 price objective on shares of Broadcom Limited in a report on Saturday, August 26th. Vetr raised Broadcom Limited from a “hold” rating to a “buy” rating and set a $258.25 price objective for the company in a report on Monday, August 14th. BidaskClub downgraded Broadcom Limited from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Finally, Cowen and Company reissued a “buy” rating and issued a $260.00 price objective on shares of Broadcom Limited in a report on Friday, August 11th. Two investment analysts have rated the stock with a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $271.98.
In other Broadcom Limited news, SVP Bryan Ingram sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $244.59, for a total value of $2,445,900.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.60% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Broadcom Limited by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer’s stock worth $6,423,271,000 after buying an additional 793,335 shares during the last quarter. BlackRock Inc. boosted its stake in Broadcom Limited by 3.5% in the 2nd quarter. BlackRock Inc. now owns 23,930,917 shares of the semiconductor manufacturer’s stock worth $5,577,099,000 after buying an additional 798,982 shares during the last quarter. State Street Corp boosted its stake in Broadcom Limited by 1.6% in the 2nd quarter. State Street Corp now owns 16,060,697 shares of the semiconductor manufacturer’s stock worth $3,742,946,000 after buying an additional 255,044 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Broadcom Limited by 18.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock worth $2,028,442,000 after buying an additional 1,338,695 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Broadcom Limited by 29.3% in the 1st 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 last quarter. 90.04% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Broadcom Limited (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 one year low of $158.75 and a one year high of $259.36. The firm has a market cap of $99.35 billion, a price-to-earnings ratio of 185.92 and a beta of 1.07. The firm’s 50-day moving average is $249.89 and its 200 day moving average is $234.79.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Tuesday, September 19th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Monday, September 18th. Broadcom Limited’s dividend payout ratio is presently 348.72%.
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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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