Sanford C. Bernstein set a $310.00 target price on Broadcom (NASDAQ:AVGO) in a research note released on Friday morning. The firm currently has a buy rating on the semiconductor manufacturer’s stock.

AVGO has been the topic of a number of other research reports. Bank of America restated a neutral rating and issued a $240.00 price target on shares of Broadcom in a research report on Monday, July 16th. BidaskClub upgraded shares of Broadcom from a sell rating to a hold rating in a research report on Wednesday, August 29th. KeyCorp dropped their price target on shares of Broadcom from $325.00 to $260.00 and set an overweight rating on the stock in a research report on Wednesday, July 25th. Zacks Investment Research upgraded shares of Broadcom from a sell rating to a hold rating in a research report on Monday, June 4th. Finally, ValuEngine downgraded shares of Broadcom from a sell rating to a strong sell rating in a research report on Thursday, July 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-seven have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $289.25.

Shares of NASDAQ AVGO traded up $16.61 during midday trading on Friday, reaching $232.58. The stock had a trading volume of 10,297,026 shares, compared to its average volume of 3,206,579. The company has a market capitalization of $93.23 billion, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94. Broadcom has a twelve month low of $197.46 and a twelve month high of $285.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 5.29 and a current ratio of 5.87.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 6th. The semiconductor manufacturer reported $4.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.82 by $0.16. The firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.06 billion. Broadcom had a net margin of 58.18% and a return on equity of 28.38%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.10 EPS. analysts forecast that Broadcom will post 17.52 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Wednesday, September 19th will be issued a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 3.01%. Broadcom’s payout ratio is 48.95%.

In other Broadcom news, SVP Bryan Ingram sold 10,604 shares of the company’s stock in a transaction on Friday, June 15th. The shares were sold at an average price of $270.02, for a total transaction of $2,863,292.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $202.08, for a total transaction of $4,041,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,604 shares of company stock worth $31,572,092. Corporate insiders own 3.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of AVGO. Pittenger & Anderson Inc. grew its stake in shares of Broadcom by 31.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 9,667 shares of the semiconductor manufacturer’s stock worth $2,278,000 after acquiring an additional 2,315 shares in the last quarter. Adell Harriman & Carpenter Inc. grew its stake in shares of Broadcom by 3.3% in the 1st quarter. Adell Harriman & Carpenter Inc. now owns 46,607 shares of the semiconductor manufacturer’s stock worth $10,983,000 after acquiring an additional 1,477 shares in the last quarter. GW&K Investment Management LLC bought a new stake in shares of Broadcom in the 1st quarter worth $33,700,000. Scott & Selber Inc. bought a new stake in shares of Broadcom in the 1st quarter worth $2,018,000. Finally, KCM Investment Advisors LLC grew its stake in shares of Broadcom by 27.1% in the 1st quarter. KCM Investment Advisors LLC now owns 2,219 shares of the semiconductor manufacturer’s stock worth $523,000 after acquiring an additional 473 shares in the last quarter. Hedge funds and other institutional investors own 84.21% of the company’s stock.

About Broadcom

Broadcom Inc designs, develops, and supplies a range of semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

Further Reading: Return on Investment (ROI)

Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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