Broadcom Limited (AVGO) Given Consensus Recommendation of “Buy” by Brokerages
Broadcom Limited (NASDAQ:AVGO) has earned a consensus rating of “Buy” from the thirty-seven analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $276.65.
Several analysts have recently weighed in on the stock. Vetr raised shares of Broadcom Limited from a “hold” rating to a “buy” rating and set a $261.95 price target for the company in a research note on Monday, August 28th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $285.00 price target (up previously from $270.00) on shares of Broadcom Limited in a research note on Saturday, August 26th. UBS AG reaffirmed a “buy” rating and set a $265.00 price target on shares of Broadcom Limited in a research note on Monday, June 26th. B. Riley reaffirmed a “buy” rating and set a $305.00 price target on shares of Broadcom Limited in a research note on Thursday, August 31st. Finally, BidaskClub downgraded shares of Broadcom Limited from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th.
Broadcom Limited (NASDAQ AVGO) traded up 0.28% on Wednesday, reaching $246.42. The company’s stock had a trading volume of 1,655,401 shares. The firm has a 50-day moving average of $245.93 and a 200-day moving average of $238.37. Broadcom Limited has a one year low of $160.62 and a one year high of $259.36. The company has a market capitalization of $100.53 billion, a PE ratio of 187.68 and a beta of 1.08.
Broadcom Limited (NASDAQ:AVGO) last announced its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The business had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the previous year, the business earned $2.89 earnings per share. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. Analysts predict that Broadcom Limited will post $15.91 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th were given a $1.02 dividend. The ex-dividend date was Monday, September 18th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.66%. Broadcom Limited’s dividend payout ratio (DPR) is currently 348.72%.
In other Broadcom Limited news, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $246.48, for a total value of $4,929,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Bryan Ingram sold 30,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $244.01, for a total transaction of $7,320,300.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,788 shares of company stock valued at $15,098,237. Insiders own 3.60% of the company’s stock.
Institutional investors have recently modified their holdings of the business. FNY Managed Accounts LLC acquired a new position in shares of Broadcom Limited in the first quarter worth about $100,000. AllSquare Wealth Management LLC raised its position in shares of Broadcom Limited by 38.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 483 shares of the semiconductor manufacturer’s stock worth $106,000 after purchasing an additional 133 shares during the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in shares of Broadcom Limited during the 2nd quarter worth about $113,000. Shine Investment Advisory Services Inc. acquired a new position in shares of Broadcom Limited during the 2nd quarter worth about $116,000. Finally, Archford Capital Strategies LLC raised its position in shares of Broadcom Limited by 45.4% during the 1st quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock worth $118,000 after purchasing an additional 168 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.
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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