Broadcom (NASDAQ:AVGO) Stock Rating Reaffirmed by Benchmark

Benchmark restated their buy rating on shares of Broadcom (NASDAQ:AVGO) in a report released on Friday morning, Benzinga reports. They currently have a $210.00 target price on the semiconductor manufacturer’s stock.

AVGO has been the subject of a number of other reports. Melius Research assumed coverage on shares of Broadcom in a report on Monday, June 3rd. They set a buy rating and a $185.00 price target for the company. Cantor Fitzgerald upped their price target on shares of Broadcom from $187.50 to $200.00 and gave the company an overweight rating in a report on Tuesday, July 16th. UBS Group upped their price target on shares of Broadcom from $161.00 to $173.50 and gave the company a buy rating in a report on Thursday, June 13th. StockNews.com lowered shares of Broadcom from a buy rating to a hold rating in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group upped their price target on shares of Broadcom from $155.00 to $205.00 and gave the company a buy rating in a report on Thursday, June 13th. Two investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $189.23.

Broadcom Trading Up 2.8 %

Shares of AVGO opened at $140.82 on Friday. The firm has a market cap of $655.50 billion, a price-to-earnings ratio of 6.06, a PEG ratio of 2.41 and a beta of 1.16. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom has a fifty-two week low of $79.51 and a fifty-two week high of $185.16. The firm has a 50 day moving average price of $189.01 and a 200-day moving average price of $156.19.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 EPS. As a group, equities research analysts forecast that Broadcom will post 3.75 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be given a $0.53 dividend. The ex-dividend date is Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.51%. Broadcom’s dividend payout ratio is currently 9.12%.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the transaction, the chief executive officer now owns 138,191 shares in the company, valued at approximately $235,746,936.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the transaction, the chief executive officer now owns 138,191 shares in the company, valued at approximately $235,746,936.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Justine Page sold 2,540 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the transaction, the director now owns 27,480 shares in the company, valued at approximately $4,809,714.48. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Broadcom

A number of hedge funds have recently bought and sold shares of AVGO. Legend Financial Advisors Inc. lifted its stake in Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 8 shares during the period. Richardson Capital Management LLC bought a new position in Broadcom during the 1st quarter valued at about $29,000. Delta Asset Management LLC TN lifted its stake in Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 17 shares during the period. Redmont Wealth Advisors LLC bought a new position in Broadcom during the 1st quarter valued at about $36,000. Finally, Ulland Investment Advisors LLC bought a new position in shares of Broadcom in the 1st quarter worth approximately $37,000. Institutional investors own 76.43% of the company’s stock.

About Broadcom

Broadcom Inc designs, develops, and supplies various 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 in two segments, Semiconductor Solutions and Infrastructure Software.