Several other research firms also recently weighed in on AVGO. ValuEngine raised Broadcom from a hold rating to a buy rating in a research report on Thursday, April 18th. KeyCorp lifted their target price on Broadcom from $335.00 to $350.00 and gave the company an overweight rating in a research report on Friday, April 26th. Mizuho lifted their target price on Broadcom from $305.00 to $335.00 and gave the company a buy rating in a research report on Friday, April 12th. Zacks Investment Research downgraded Broadcom from a hold rating to a sell rating in a research report on Tuesday, March 19th. Finally, Citigroup assumed coverage on Broadcom in a research report on Friday, March 15th. They issued a buy rating for the company. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-eight have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $305.55.
Shares of NASDAQ:AVGO opened at $283.48 on Tuesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.27 and a quick ratio of 1.14. The stock has a market cap of $110.92 billion, a P/E ratio of 15.05, a price-to-earnings-growth ratio of 1.28 and a beta of 0.87. Broadcom has a 12-month low of $197.46 and a 12-month high of $323.20.
Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share for the quarter, beating the consensus estimate of $4.32 by $1.23. The company had revenue of $5.79 billion during the quarter, compared to the consensus estimate of $5.83 billion. Broadcom had a return on equity of 30.31% and a net margin of 30.50%. Broadcom’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $5.12 EPS. On average, sell-side analysts forecast that Broadcom will post 17.65 EPS for the current year.
In related news, CFO Thomas H. Krause sold 14,494 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $295.45, for a total transaction of $4,282,252.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $315.07, for a total value of $6,301,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,824 shares of company stock valued at $26,390,919. 3.30% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. Belpointe Asset Management LLC lifted its stake in Broadcom by 2.0% during the first quarter. Belpointe Asset Management LLC now owns 3,318 shares of the semiconductor manufacturer’s stock worth $997,000 after purchasing an additional 64 shares during the last quarter. KCL Capital L.P. purchased a new stake in Broadcom during the first quarter worth approximately $3,759,000. Financial Advisors Network Inc. purchased a new stake in Broadcom during the first quarter worth approximately $303,000. Meridian Wealth Management LLC lifted its stake in Broadcom by 10.4% during the first quarter. Meridian Wealth Management LLC now owns 1,913 shares of the semiconductor manufacturer’s stock worth $575,000 after purchasing an additional 180 shares during the last quarter. Finally, Princeton Global Asset Management LLC lifted its stake in Broadcom by 1.5% during the first quarter. Princeton Global Asset Management LLC now owns 12,859 shares of the semiconductor manufacturer’s stock worth $3,866,000 after purchasing an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 84.42% of the company’s stock.
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.
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