Broadcom Limited (AVGO) Price Target Increased to $300.00 by Analysts at Barclays PLC
Broadcom Limited (NASDAQ:AVGO) had its price objective boosted by Barclays PLC from $290.00 to $300.00 in a report released on Wednesday morning. The firm currently has an overweight rating on the semiconductor manufacturer’s stock.
A number of other research analysts have also issued reports on the company. KeyCorp reissued a buy rating and issued a $290.00 target price on shares of Broadcom Limited in a report on Tuesday. SunTrust Banks, Inc. reissued a buy rating and issued a $281.00 target price on shares of Broadcom Limited in a report on Thursday, October 12th. Royal Bank Of Canada reissued a top pick rating and issued a $285.00 target price on shares of Broadcom Limited in a report on Wednesday, October 11th. Sanford C. Bernstein reissued an outperform rating and issued a $285.00 target price on shares of Broadcom Limited in a report on Tuesday, October 10th. Finally, Mizuho reissued a buy rating and issued a $290.00 target price on shares of Broadcom Limited in a report on Sunday, October 8th. One equities research analyst has rated the stock with a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $277.51.
Broadcom Limited (NASDAQ:AVGO) traded up 0.12% during midday trading on Wednesday, reaching $244.29. The company’s stock had a trading volume of 2,543,478 shares. The stock’s 50 day moving average is $245.25 and its 200 day moving average is $240.11. The stock has a market cap of $99.67 billion, a P/E ratio of 186.05 and a beta of 1.08. Broadcom Limited has a 12-month low of $160.62 and a 12-month high of $259.36.
Broadcom Limited (NASDAQ:AVGO) last released its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.03 by $0.07. The business had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.46 billion. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.89 earnings per share. Analysts anticipate that Broadcom Limited will post $15.91 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Monday, September 18th. This represents a $4.08 annualized dividend and a yield of 1.67%. Broadcom Limited’s dividend payout ratio is presently 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 stock was sold at an average price of $246.48, for a total transaction of $4,929,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 value of $7,320,300.00. The disclosure for this sale can be found here. Insiders have sold 81,788 shares of company stock valued at $20,054,837 over the last 90 days. 3.60% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in AVGO. Waldron LP acquired a new stake in Broadcom Limited during the first quarter worth about $302,000. Suffolk Capital Management LLC acquired a new stake in Broadcom Limited during the first quarter worth about $13,117,000. Municipal Employees Retirement System of Michigan increased its stake in Broadcom Limited by 1.2% during the first quarter. Municipal Employees Retirement System of Michigan now owns 12,818 shares of the semiconductor manufacturer’s stock worth $2,807,000 after acquiring an additional 150 shares during the last quarter. ZWJ Investment Counsel Inc. increased its stake in Broadcom Limited by 11.2% during the first quarter. ZWJ Investment Counsel Inc. now owns 107,564 shares of the semiconductor manufacturer’s stock worth $23,552,000 after acquiring an additional 10,824 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its stake in Broadcom Limited by 358.8% during the first quarter. Rafferty Asset Management LLC now owns 59,905 shares of the semiconductor manufacturer’s stock worth $13,117,000 after acquiring an additional 46,847 shares during the last quarter. Institutional investors own 89.65% of the company’s stock.
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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