Broadcom Inc. (NASDAQ:AVGO) Given Consensus Rating of “Moderate Buy” by Analysts

Broadcom Inc. (NASDAQ:AVGO) has earned a consensus recommendation of “Moderate Buy” from the twenty-seven ratings firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $231.48.

A number of brokerages have issued reports on AVGO. Barclays upped their target price on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Morgan Stanley raised their price objective on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. JPMorgan Chase & Co. increased their price target on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Evercore ISI lifted their price target on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th.

Broadcom Trading Down 4.1 %

Shares of AVGO opened at $171.99 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom has a 12 month low of $119.76 and a 12 month high of $251.88. The stock’s 50-day moving average is $210.84 and its two-hundred day moving average is $195.72. The stock has a market cap of $808.69 billion, a PE ratio of 140.29, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.37%. Broadcom’s dividend payout ratio is currently 113.46%.

Insider Activity at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now directly owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 122,000 shares of company stock valued at $27,334,060 over the last ninety days. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

Institutional investors have recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. boosted its holdings in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. Canton Hathaway LLC acquired a new position in Broadcom during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new position in Broadcom during the fourth quarter valued at approximately $26,000. Sunbeam Capital Management LLC acquired a new stake in shares of Broadcom in the fourth quarter worth $28,000. Finally, Vermillion Wealth Management Inc. acquired a new position in Broadcom in the 4th quarter valued at $30,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

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.