Shares of Broadcom Inc (NASDAQ:AVGO) have been given a consensus rating of “Buy” by the thirty-seven brokerages that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation, twenty-seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $337.68.

AVGO has been the topic of a number of recent research reports. Charter Equity upgraded Broadcom from a “market perform” rating to an “outperform” rating in a research report on Sunday, April 19th. Daiwa Capital Markets upgraded Broadcom from a “neutral” rating to an “outperform” rating and set a $215.00 price objective on the stock in a research report on Wednesday, March 18th. Bank of America upped their price objective on Broadcom from $305.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Citigroup upped their price objective on Broadcom from $303.00 to $360.00 and gave the company a “buy” rating in a research report on Friday, June 5th. They noted that the move was a valuation call. Finally, Credit Suisse Group initiated coverage on Broadcom in a research note on Monday, June 15th. They set an “outperform” rating and a $400.00 target price on the stock.

In other Broadcom news, CEO Hock E. Tan sold 57,171 shares of Broadcom stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $313.81, for a total transaction of $17,940,831.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 2,000 shares of Broadcom stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $257.25, for a total value of $514,500.00. The disclosure for this sale can be found here. Insiders sold a total of 250,411 shares of company stock valued at $78,280,448 in the last 90 days. 3.30% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IPG Investment Advisors LLC grew its position in shares of Broadcom by 4.7% during the 4th quarter. IPG Investment Advisors LLC now owns 895 shares of the semiconductor manufacturer’s stock valued at $283,000 after acquiring an additional 40 shares during the period. OLD National Bancorp IN grew its position in shares of Broadcom by 3.3% during the 1st quarter. OLD National Bancorp IN now owns 1,268 shares of the semiconductor manufacturer’s stock valued at $301,000 after acquiring an additional 40 shares during the period. Park Avenue Securities LLC grew its position in shares of Broadcom by 2.5% during the 1st quarter. Park Avenue Securities LLC now owns 1,640 shares of the semiconductor manufacturer’s stock valued at $389,000 after acquiring an additional 40 shares during the period. Wedge Capital Management L L P NC boosted its holdings in Broadcom by 4.8% in the 1st quarter. Wedge Capital Management L L P NC now owns 892 shares of the semiconductor manufacturer’s stock worth $211,000 after buying an additional 41 shares during the last quarter. Finally, Enterprise Financial Services Corp boosted its holdings in Broadcom by 13.6% in the 1st quarter. Enterprise Financial Services Corp now owns 342 shares of the semiconductor manufacturer’s stock worth $81,000 after buying an additional 41 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

NASDAQ:AVGO traded up $2.74 during mid-day trading on Tuesday, hitting $315.47. 1,666,557 shares of the company traded hands, compared to its average volume of 2,836,852. The firm has a market cap of $126.88 billion, a price-to-earnings ratio of 56.43, a price-to-earnings-growth ratio of 1.50 and a beta of 0.90. 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 stock’s fifty day moving average price is $296.92 and its 200-day moving average price is $285.19. Broadcom has a one year low of $155.67 and a one year high of $331.58.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, June 4th. The semiconductor manufacturer reported $5.14 earnings per share for the quarter, hitting analysts’ consensus estimates of $5.14. The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.69 billion. Broadcom had a return on equity of 32.00% and a net margin of 10.97%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.21 earnings per share. Equities analysts predict that Broadcom will post 17.47 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were issued a dividend of $3.25 per share. The ex-dividend date of this dividend was Friday, June 19th. This represents a $13.00 annualized dividend and a dividend yield of 4.12%. Broadcom’s dividend payout ratio is presently 74.67%.

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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Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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