Mizuho reiterated their buy rating on shares of Broadcom (NASDAQ:AVGO) in a research note issued to investors on Friday morning, The Fly reports. Mizuho currently has a $340.00 target price on the semiconductor manufacturer’s stock, up from their prior target price of $330.00.

AVGO has been the subject of several other reports. BidaskClub upgraded Broadcom from a hold rating to a buy rating in a research report on Thursday, September 12th. Jefferies Financial Group dropped their target price on Broadcom from $370.00 to $324.00 and set a buy rating for the company in a research report on Friday, June 14th. Susquehanna Bancshares set a $315.00 target price on Broadcom and gave the company a buy rating in a research report on Tuesday, September 10th. ValuEngine downgraded Broadcom from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, Deutsche Bank dropped their target price on Broadcom from $330.00 to $315.00 and set a buy rating for the company in a research report on Friday, June 14th. Ten analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. Broadcom has an average rating of Buy and an average target price of $311.71.

Broadcom stock opened at $288.66 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $119.65 billion, a PE ratio of 15.33, a P/E/G ratio of 1.47 and a beta of 0.88. Broadcom has a 12 month low of $208.23 and a 12 month high of $323.20. The stock has a 50-day moving average price of $282.27 and a two-hundred day moving average price of $287.04.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 12th. The semiconductor manufacturer reported $3.99 EPS for the quarter, missing the consensus estimate of $4.10 by ($0.11). The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.52 billion. Broadcom had a net margin of 13.44% and a return on equity of 33.21%. Broadcom’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.98 earnings per share. As a group, analysts predict that Broadcom will post 17.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 23rd will be issued a $2.65 dividend. The ex-dividend date is Friday, September 20th. This represents a $10.60 dividend on an annualized basis and a yield of 3.67%. Broadcom’s payout ratio is currently 56.29%.

In other Broadcom news, SVP Bryan Ingram sold 13,466 shares of Broadcom stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $278.78, for a total value of $3,754,051.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $292.16, for a total value of $5,843,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,388 shares of company stock valued at $18,327,682. 3.30% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Endurance Wealth Management Inc. grew its stake in Broadcom by 8.4% in the second quarter. Endurance Wealth Management Inc. now owns 7,575 shares of the semiconductor manufacturer’s stock valued at $2,181,000 after acquiring an additional 585 shares during the period. Parsons Capital Management Inc. RI grew its stake in Broadcom by 13.2% in the second quarter. Parsons Capital Management Inc. RI now owns 1,646 shares of the semiconductor manufacturer’s stock valued at $474,000 after acquiring an additional 192 shares during the period. 9258 Wealth Management LLC grew its stake in Broadcom by 5.8% in the second quarter. 9258 Wealth Management LLC now owns 1,558 shares of the semiconductor manufacturer’s stock valued at $449,000 after acquiring an additional 85 shares during the period. Cookson Peirce & Co. Inc. grew its stake in Broadcom by 63.0% in the second quarter. Cookson Peirce & Co. Inc. now owns 60,830 shares of the semiconductor manufacturer’s stock valued at $17,511,000 after acquiring an additional 23,514 shares during the period. Finally, Advisors Capital Management LLC grew its stake in Broadcom by 47.9% in the second quarter. Advisors Capital Management LLC now owns 186,166 shares of the semiconductor manufacturer’s stock valued at $53,590,000 after acquiring an additional 60,275 shares during the period. 84.57% of the stock is owned by hedge funds and other institutional investors.

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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The Fly

Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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