Broadcom (NASDAQ:AVGO) had its price target lifted by Goldman Sachs Group from $286.00 to $322.00 in a report published on Monday, The Fly reports. Goldman Sachs Group currently has a neutral rating on the semiconductor manufacturer’s stock.

Several other analysts also recently weighed in on the company. Morgan Stanley lifted their target price on Broadcom from $333.00 to $358.00 and gave the stock an overweight rating in a research report on Friday, June 5th. Piper Sandler lifted their target price on Broadcom from $300.00 to $360.00 and gave the stock an overweight rating in a research report on Friday, June 5th. Cowen lifted their target price on Broadcom from $230.00 to $305.00 and gave the stock a market perform rating in a research report on Friday, June 5th. Bank of America lifted their target price on Broadcom from $305.00 to $350.00 and gave the stock a buy rating in a research report on Wednesday, June 3rd. Finally, KeyCorp raised their price target on Broadcom from $290.00 to $360.00 and gave the company an overweight rating in a research note on Friday, June 5th. Two research 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 given a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $339.25.

Shares of AVGO opened at $319.57 on Monday. The company has a market cap of $125.93 billion, a PE ratio of 57.17, a P/E/G ratio of 1.52 and a beta of 0.90. The business has a fifty day moving average of $302.06 and a 200 day moving average of $285.06. Broadcom has a 52-week low of $155.67 and a 52-week high of $331.58. The company has a quick ratio of 2.01, a current ratio of 2.15 and a debt-to-equity ratio of 1.88.

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

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were issued a dividend of $3.25 per share. This represents a $13.00 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend was Friday, June 19th. Broadcom’s dividend payout ratio (DPR) is 74.67%.

In other Broadcom news, CEO Hock E. Tan sold 57,171 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $313.81, for a total value of $17,940,831.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justine Lien sold 260 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $309.95, for a total value of $80,587.00. The disclosure for this sale can be found here. Insiders have sold 247,063 shares of company stock valued at $77,409,550 in the last ninety days. Corporate insiders own 3.00% of the company’s stock.

Large investors have recently made changes to their positions in the business. Capital International Investors raised its stake in shares of Broadcom by 16.5% during the 1st quarter. Capital International Investors now owns 34,403,752 shares of the semiconductor manufacturer’s stock worth $8,157,136,000 after buying an additional 4,864,220 shares during the period. Capital Research Global Investors raised its stake in shares of Broadcom by 8.6% during the 1st quarter. Capital Research Global Investors now owns 29,499,900 shares of the semiconductor manufacturer’s stock worth $6,994,430,000 after buying an additional 2,323,946 shares during the period. BlackRock Inc. increased its position in shares of Broadcom by 2.0% during the first quarter. BlackRock Inc. now owns 25,415,446 shares of the semiconductor manufacturer’s stock worth $6,026,003,000 after purchasing an additional 508,484 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Broadcom by 2.2% during the first quarter. Geode Capital Management LLC now owns 5,698,910 shares of the semiconductor manufacturer’s stock worth $1,348,802,000 after purchasing an additional 123,759 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Broadcom by 18.4% during the first quarter. Clearbridge Investments LLC now owns 4,184,682 shares of the semiconductor manufacturer’s stock worth $992,188,000 after purchasing an additional 651,443 shares in the last quarter. 81.79% of the stock is owned by 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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Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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