Evercore ISI upgraded shares of Broadcom (NASDAQ:AVGO) from an in-line rating to an outperform rating in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has $380.00 price objective on the semiconductor manufacturer’s stock, up from their previous price objective of $315.00.

AVGO has been the subject of a number of other research reports. BMO Capital Markets upped their price objective on Broadcom from $330.00 to $350.00 in a research report on Friday, June 5th. Cowen upped their price target on shares of Broadcom from $230.00 to $305.00 and gave the company a market perform rating in a research report on Friday, June 5th. Argus increased their price objective on shares of Broadcom from $250.00 to $350.00 and gave the stock a buy rating in a research note on Tuesday, June 9th. Mizuho restated a buy rating and set a $350.00 target price (up from $325.00) on shares of Broadcom in a research report on Sunday, June 21st. Finally, Barclays increased their price target on shares of Broadcom from $320.00 to $345.00 and gave the stock an overweight rating in a research report on Friday, June 5th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $337.44.

Shares of AVGO stock opened at $309.78 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.15 and a debt-to-equity ratio of 1.88. The company has a 50 day moving average price of $293.60 and a 200-day moving average price of $285.34. Broadcom has a 52 week low of $155.67 and a 52 week high of $331.58. The firm has a market capitalization of $123.64 billion, a PE ratio of 55.42, a P/E/G ratio of 1.46 and a beta of 0.92.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, June 4th. The semiconductor manufacturer reported $5.14 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $5.14. The company had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.69 billion. Broadcom had a net margin of 10.97% and a return on equity of 32.00%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the company posted $5.21 earnings per share. Analysts anticipate that Broadcom will post 17.47 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be issued a $3.25 dividend. This represents a $13.00 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend is Friday, June 19th. Broadcom’s dividend payout ratio (DPR) is presently 74.67%.

In other news, insider Mark David Brazeal sold 2,000 shares of Broadcom stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $257.25, for a total value of $514,500.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 57,171 shares of Broadcom stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $310.65, for a total value of $17,760,171.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 192,980 shares of company stock valued at $60,259,029. 3.00% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Busey Wealth Management grew its holdings in shares of Broadcom by 1.0% in the fourth quarter. Busey Wealth Management now owns 3,148 shares of the semiconductor manufacturer’s stock valued at $996,000 after purchasing an additional 32 shares in the last quarter. IPG Investment Advisors LLC grew its stake in shares of Broadcom by 4.7% in the 4th quarter. IPG Investment Advisors LLC now owns 895 shares of the semiconductor manufacturer’s stock worth $283,000 after buying an additional 40 shares in the last quarter. OLD National Bancorp IN grew its stake in shares of Broadcom by 3.3% in the 1st quarter. OLD National Bancorp IN now owns 1,268 shares of the semiconductor manufacturer’s stock worth $301,000 after buying an additional 40 shares in the last quarter. Park Avenue Securities LLC increased its holdings in shares of Broadcom by 2.5% in the 1st quarter. Park Avenue Securities LLC now owns 1,640 shares of the semiconductor manufacturer’s stock worth $389,000 after buying an additional 40 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its position in shares of Broadcom by 4.8% during the 1st quarter. Wedge Capital Management L L P NC now owns 892 shares of the semiconductor manufacturer’s stock valued at $211,000 after buying an additional 41 shares in the last quarter. 81.79% 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.

See Also: Why is insider trading harmful?

Analyst Recommendations for Broadcom (NASDAQ:AVGO)

Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.