Equities analysts predict that Broadcom Inc (NASDAQ:AVGO) will report sales of $5.50 billion for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Broadcom’s earnings. The lowest sales estimate is $5.39 billion and the highest is $5.65 billion. Broadcom reported sales of $5.06 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.7%. The company is expected to announce its next quarterly earnings report after the market closes on Thursday, September 12th.

On average, analysts expect that Broadcom will report full-year sales of $22.73 billion for the current year, with estimates ranging from $22.56 billion to $22.98 billion. For the next financial year, analysts forecast that the firm will post sales of $23.51 billion, with estimates ranging from $21.33 billion to $24.89 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Broadcom.

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 the consensus estimate of $5.18 by $0.03. Broadcom had a return on equity of 32.81% and a net margin of 15.92%. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the firm posted $4.88 EPS. The business’s revenue was up 10.0% compared to the same quarter last year.

AVGO has been the topic of several research reports. Daiwa Capital Markets lowered Broadcom from a “buy” rating to a “neutral” rating in a research report on Thursday, August 15th. KeyCorp upped their target price on Broadcom from $310.00 to $330.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $350.00 target price on shares of Broadcom in a research report on Monday, June 10th. Barclays dropped their target price on Broadcom from $360.00 to $315.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. Finally, Morgan Stanley dropped their target price on Broadcom from $266.00 to $262.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. Ten analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. Broadcom has a consensus rating of “Buy” and an average target price of $304.32.

In related news, SVP Bryan Ingram sold 11,922 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $278.58, for a total transaction of $3,321,230.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $264.00, for a total value of $5,280,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,388 shares of company stock valued at $18,198,482. 3.30% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the business. Natixis lifted its position in shares of Broadcom by 840.6% in the 2nd quarter. Natixis now owns 440,738 shares of the semiconductor manufacturer’s stock worth $126,871,000 after acquiring an additional 393,880 shares during the period. Transamerica Financial Advisors Inc. bought a new stake in shares of Broadcom in the 2nd quarter worth approximately $185,000. Arjuna Capital bought a new stake in shares of Broadcom in the 2nd quarter worth approximately $598,000. Cresset Asset Management LLC raised its holdings in shares of Broadcom by 2.0% in the 2nd quarter. Cresset Asset Management LLC now owns 1,922 shares of the semiconductor manufacturer’s stock worth $558,000 after buying an additional 37 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. raised its holdings in shares of Broadcom by 17.3% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 22,543 shares of the semiconductor manufacturer’s stock worth $6,489,000 after buying an additional 3,325 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

AVGO stock traded up $0.12 during mid-day trading on Thursday, hitting $287.62. The stock had a trading volume of 1,064,448 shares, compared to its average volume of 2,808,161. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 1.53. Broadcom has a 1-year low of $204.68 and a 1-year high of $323.20. The company has a fifty day moving average of $283.93 and a 200 day moving average of $286.14. The stock has a market capitalization of $110.97 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.37 and a beta of 0.92.

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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