Broadcom (NASDAQ:AVGO) had its target price hoisted by Cowen from $245.00 to $255.00 in a research report report published on Friday morning, Marketbeat reports. They currently have an outperform rating on the semiconductor manufacturer’s stock.

A number of other analysts have also commented on AVGO. Craig Hallum reaffirmed a buy rating and set a $300.00 target price (down previously from $330.00) on shares of Broadcom in a report on Friday. BidaskClub lowered shares of Broadcom from a buy rating to a hold rating in a report on Wednesday, July 4th. B. Riley lifted their price target on shares of Broadcom from $245.00 to $250.00 and gave the stock a neutral rating in a research report on Friday. Raymond James cut shares of Broadcom from an outperform rating to a market perform rating in a research report on Friday, July 13th. Finally, Bank of America lifted their price target on shares of Broadcom from $285.00 to $300.00 and gave the stock a buy rating in a research report on Friday, June 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-seven have given a buy rating to the company. The stock has an average rating of Buy and an average price target of $289.25.

AVGO traded up $16.61 during trading on Friday, reaching $232.58. 10,297,026 shares of the company’s stock were exchanged, compared to its average volume of 3,206,579. 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 has a fifty-two week low of $197.46 and a fifty-two week high of $285.68. The firm has a market capitalization of $93.23 billion, a PE ratio of 16.26, a P/E/G ratio of 0.94 and a beta of 0.94.

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

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

In related news, SVP Bryan Ingram sold 20,000 shares of the business’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $261.84, for a total value of $5,236,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 130,604 shares of company stock worth $31,572,092 over the last ninety days. 3.30% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marcus Capital LLC bought a new stake in Broadcom in the 2nd quarter valued at $364,000. BP PLC bought a new stake in Broadcom during the 2nd quarter worth about $12,135,000. Wesbanco Bank Inc. bought a new stake in Broadcom during the 2nd quarter worth about $19,879,000. Sigma Investment Counselors Inc. bought a new stake in Broadcom during the 2nd quarter worth about $286,000. Finally, KBC Group NV bought a new stake in Broadcom during the 2nd quarter worth about $10,500,000. 84.21% of the stock is currently owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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