Broadcom (NASDAQ:AVGO) had its target price boosted by Jefferies Financial Group to $314.00 in a research note published on Friday morning, The Fly reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

Other equities analysts have also recently issued reports about the stock. Charter Equity upgraded shares of Broadcom from a mkt perform rating to a buy rating in a research report on Friday. Craig Hallum reiterated a buy rating and set a $305.00 price objective (up from $300.00) on shares of Broadcom in a research report on Friday. UBS Group lowered their price objective on shares of Broadcom from $300.00 to $275.00 and set a buy rating on the stock in a research report on Friday. MKM Partners lifted their price objective on shares of Broadcom from $255.00 to $280.00 and gave the stock a buy rating in a research report on Friday. Finally, Cascend Securities upgraded shares of Broadcom from a hold rating to a buy rating in a research report on Friday. Nine research analysts have rated the stock with a hold rating and thirty-four have assigned a buy rating to the company’s stock. Broadcom has an average rating of Buy and an average price target of $288.33.

NASDAQ AVGO traded up $1.32 on Friday, hitting $228.56. 7,836,613 shares of the stock were exchanged, compared to its average volume of 2,909,609. Broadcom has a 52-week low of $197.46 and a 52-week high of $274.26. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.42 and a current ratio of 3.98. The stock has a market cap of $93.95 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.98 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 6th. The semiconductor manufacturer reported $5.85 earnings per share for the quarter, topping the consensus estimate of $5.58 by $0.27. Broadcom had a net margin of 58.80% and a return on equity of 28.32%. The firm had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the company posted $4.59 EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, research analysts forecast that Broadcom will post 18.45 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Wednesday, December 19th will be paid a $2.65 dividend. This represents a $10.60 annualized dividend and a dividend yield of 4.64%. The ex-dividend date is Tuesday, December 18th. This is a positive change from Broadcom’s previous quarterly dividend of $1.75. Broadcom’s payout ratio is presently 37.17%.

In related news, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction on Monday, September 17th. The shares were sold at an average price of $238.62, for a total value of $4,772,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kirsten M. Spears sold 1,194 shares of Broadcom stock in a transaction on Friday, September 28th. The shares were sold at an average price of $246.52, for a total transaction of $294,344.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,194 shares of company stock valued at $14,266,145. 3.30% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Rehmann Capital Advisory Group lifted its stake in shares of Broadcom by 3.7% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,603 shares of the semiconductor manufacturer’s stock valued at $396,000 after purchasing an additional 57 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Broadcom by 189.7% in the 3rd quarter. Marshall Wace LLP now owns 69,355 shares of the semiconductor manufacturer’s stock valued at $17,112,000 after purchasing an additional 45,415 shares during the last quarter. Great Lakes Advisors LLC lifted its stake in shares of Broadcom by 7.4% in the 3rd quarter. Great Lakes Advisors LLC now owns 3,247 shares of the semiconductor manufacturer’s stock valued at $801,000 after purchasing an additional 223 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Broadcom by 6.6% in the 3rd quarter. Vanguard Group Inc. now owns 33,632,811 shares of the semiconductor manufacturer’s stock valued at $8,298,223,000 after purchasing an additional 2,094,847 shares during the last quarter. Finally, Morgan Stanley lifted its stake in shares of Broadcom by 121.7% in the 3rd quarter. Morgan Stanley now owns 4,296,700 shares of the semiconductor manufacturer’s stock valued at $1,060,125,000 after purchasing an additional 2,358,329 shares during the last quarter. 85.22% of the stock is owned by institutional investors and hedge funds.

Broadcom Company Profile

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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