Broadcom (NASDAQ:AVGO) Sets New 12-Month High at $454.99


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Broadcom Inc. (NASDAQ:AVGO) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $454.99 and last traded at $454.84, with a volume of 4841 shares trading hands. The stock had previously closed at $451.21.

A number of brokerages have issued reports on AVGO. Morgan Stanley lifted their price target on shares of Broadcom from $415.00 to $440.00 and gave the company an “overweight” rating in a report on Monday, December 7th. Oppenheimer restated a “buy” rating and issued a $475.00 target price on shares of Broadcom in a report on Friday, December 11th. Barclays boosted their target price on shares of Broadcom from $385.00 to $450.00 and gave the stock an “overweight” rating in a report on Friday, December 11th. Credit Suisse Group boosted their target price on shares of Broadcom from $420.00 to $480.00 and gave the stock an “outperform” rating in a report on Wednesday, December 9th. Finally, Argus boosted their target price on shares of Broadcom from $400.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, December 14th. Five research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $418.57.

The company has a debt-to-equity ratio of 1.69, a current ratio of 1.87 and a quick ratio of 1.71. The firm’s fifty day simple moving average is $422.88 and its 200 day simple moving average is $366.51. The company has a market capitalization of $185.31 billion, a PE ratio of 71.73, a price-to-earnings-growth ratio of 1.50 and a beta of 1.05.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, December 9th. The semiconductor manufacturer reported $6.35 earnings per share for the quarter, topping analysts’ consensus estimates of $6.25 by $0.10. The company had revenue of $6.47 billion during the quarter, compared to analyst estimates of $6.43 billion. Broadcom had a return on equity of 35.23% and a net margin of 12.39%. Broadcom’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.39 earnings per share. On average, equities research analysts anticipate that Broadcom Inc. will post 23.07 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, December 31st. Investors of record on Monday, December 21st were issued a $3.60 dividend. This represents a $14.40 annualized dividend and a yield of 3.16%. The ex-dividend date was Friday, December 18th. This is an increase from Broadcom’s previous quarterly dividend of $3.25. Broadcom’s dividend payout ratio (DPR) is 78.05%.

In other news, CEO Hock E. Tan sold 78,125 shares of Broadcom stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $361.33, for a total transaction of $28,228,906.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 530 shares of Broadcom stock in a transaction on Tuesday, December 15th. The stock was sold at an average price of $415.46, for a total transaction of $220,193.80. The disclosure for this sale can be found here. Insiders sold a total of 332,928 shares of company stock valued at $134,075,933 in the last three months. 3.00% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. TFC Financial Management acquired a new stake in shares of Broadcom during the 3rd quarter worth approximately $27,000. Provident Wealth Management LLC bought a new position in shares of Broadcom in the 3rd quarter valued at approximately $28,000. Horan Securities Inc. bought a new position in shares of Broadcom in the 3rd quarter valued at approximately $34,000. Northwest Investment Counselors LLC bought a new position in shares of Broadcom in the 3rd quarter valued at approximately $35,000. Finally, CVA Family Office LLC bought a new position in Broadcom in the 3rd quarter worth approximately $42,000. Hedge funds and other institutional investors own 80.62% of the company’s stock.

Broadcom Company Profile (NASDAQ:AVGO)

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 three segments: Semiconductor Solutions, Infrastructure Software, and Intellectual Property licensing.

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