Broadcom (NASDAQ:AVGO) had its price objective decreased by Citigroup from $320.00 to $300.00 in a research report released on Friday, BenzingaRatingsTable reports. Citigroup currently has a buy rating on the semiconductor manufacturer’s stock.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $325.00 to $365.00 in a research report on Monday, March 18th. Rosenblatt Securities reiterated a buy rating and set a $350.00 target price on shares of Broadcom in a research report on Friday, March 15th. Jefferies Financial Group increased their target price on shares of Broadcom from $314.00 to $341.00 and gave the stock a buy rating in a research report on Friday, March 15th. SunTrust Banks increased their target price on shares of Broadcom to $339.00 and gave the stock a buy rating in a research report on Friday, March 15th. They noted that the move was a valuation call. Finally, Craig Hallum increased their target price on shares of Broadcom from $305.00 to $325.00 and gave the stock a buy rating in a research report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-nine have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $299.32.

NASDAQ AVGO opened at $265.93 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.27 and a quick ratio of 1.14. The stock has a market cap of $111.47 billion, a P/E ratio of 14.12, a P/E/G ratio of 1.27 and a beta of 0.87. Broadcom has a 52-week low of $197.46 and a 52-week high of $323.20.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share for the quarter, topping analysts’ consensus estimates of $5.18 by $0.03. The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.70 billion. Broadcom had a net margin of 15.92% and a return on equity of 31.66%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the business earned $4.88 earnings per share. On average, equities research analysts anticipate that Broadcom will post 17.55 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 24th will be given a $2.65 dividend. This represents a $10.60 dividend on an annualized basis and a dividend yield of 3.99%. Broadcom’s dividend payout ratio (DPR) is currently 56.29%.

In other news, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $315.07, for a total value of $6,301,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Charlie B. Kawwas sold 9,330 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $295.93, for a total transaction of $2,761,026.90. The disclosure for this sale can be found here. Insiders sold 67,824 shares of company stock valued at $20,565,519 over the last 90 days. 3.30% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in AVGO. AlphaOne Investment Services LLC purchased a new stake in Broadcom in the fourth quarter valued at approximately $25,000. First Financial Corp IN purchased a new stake in Broadcom in the first quarter valued at approximately $30,000. Daiwa SB Investments Ltd. purchased a new stake in Broadcom in the first quarter valued at approximately $30,000. CX Institutional raised its stake in Broadcom by 555.6% in the first quarter. CX Institutional now owns 118 shares of the semiconductor manufacturer’s stock valued at $35,000 after purchasing an additional 100 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in Broadcom in the fourth quarter valued at approximately $36,000. 84.42% of the stock is currently 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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