Broadcom (NASDAQ:AVGO) Price Target Raised to $225.00

Broadcom (NASDAQ:AVGO) had its target price boosted by Susquehanna from $200.00 to $225.00 in a research report released on Friday morning,Benzinga reports. Susquehanna currently has a positive rating on the semiconductor manufacturer’s stock.

A number of other analysts have also commented on the company. Benchmark reiterated a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. Truist Financial raised their target price on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Robert W. Baird raised their price objective on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday. Finally, TD Cowen lifted their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $220.33.

Broadcom Price Performance

AVGO opened at $224.80 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The stock has a market capitalization of $1.05 trillion, a P/E ratio of 182.76, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13. The company’s 50 day simple moving average is $174.61 and its 200-day simple moving average is $164.45. Broadcom has a one year low of $104.15 and a one year high of $228.70.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 EPS. Sell-side analysts anticipate that Broadcom will post 3.79 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 172.36%.

Insider Transactions at Broadcom

In related news, Director Gayla J. Delly sold 750 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the transaction, the director now directly owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. This represents a 2.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the sale, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. This represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock valued at $53,540,590 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Broadcom

A number of large investors have recently bought and sold shares of the company. NCP Inc. boosted its holdings in Broadcom by 615.4% during the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after purchasing an additional 400 shares during the last quarter. Family Investment Center Inc. bought a new stake in Broadcom during the 2nd quarter worth about $316,000. Sarasin & Partners LLP boosted its stake in shares of Broadcom by 3.6% during the 2nd quarter. Sarasin & Partners LLP now owns 177,453 shares of the semiconductor manufacturer’s stock worth $284,906,000 after buying an additional 6,140 shares during the last quarter. Chapin Davis Inc. grew its holdings in shares of Broadcom by 14.2% in the 2nd quarter. Chapin Davis Inc. now owns 4,773 shares of the semiconductor manufacturer’s stock valued at $7,664,000 after acquiring an additional 595 shares in the last quarter. Finally, Johnson & White Wealth Management LLC increased its position in shares of Broadcom by 12.4% in the second quarter. Johnson & White Wealth Management LLC now owns 1,776 shares of the semiconductor manufacturer’s stock valued at $2,852,000 after acquiring an additional 196 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

About Broadcom

Broadcom Inc designs, develops, and supplies various 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 in two segments, Semiconductor Solutions and Infrastructure Software.