Broadcom (NASDAQ:AVGO) Given New $205.00 Price Target at Barclays

Broadcom (NASDAQ:AVGO) had its price objective raised by Barclays from $200.00 to $205.00 in a report published on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the semiconductor manufacturer’s stock.

Several other research analysts have also recently issued reports on AVGO. William Blair assumed coverage on Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Cantor Fitzgerald lifted their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Robert W. Baird lifted their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday. Finally, TD Cowen lifted their price target on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $220.54.

Broadcom Trading Up 11.2 %

Shares of NASDAQ:AVGO opened at $250.00 on Monday. Broadcom has a 52-week low of $104.15 and a 52-week high of $251.88. The stock has a market cap of $1.17 trillion, a price-to-earnings ratio of 203.25, a PEG ratio of 2.15 and a beta of 1.13. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The business has a 50-day moving average price of $176.11 and a 200-day moving average price of $165.21.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period last year, the business posted $0.98 earnings per share. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. Equities analysts predict that Broadcom will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be paid a $0.59 dividend. The ex-dividend date of this dividend is Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.94%. Broadcom’s payout ratio is currently 172.36%.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the transaction, the insider now owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the transaction, the insider now directly owns 399,460 shares in the company, valued at $70,744,366. This trade represents a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 261,080 shares of company stock valued at $45,372,090 over the last ninety days. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Broadcom

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVGO. NCP Inc. lifted its stake in shares of Broadcom by 615.4% in the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after purchasing an additional 400 shares during the last quarter. Crescent Grove Advisors LLC acquired a new position in shares of Broadcom in the 2nd quarter valued at $242,000. Busey Bank lifted its stake in shares of Broadcom by 0.8% in the 2nd quarter. Busey Bank now owns 33,607 shares of the semiconductor manufacturer’s stock valued at $53,957,000 after purchasing an additional 251 shares during the last quarter. Iowa State Bank acquired a new position in shares of Broadcom in the 2nd quarter valued at $2,896,000. Finally, MeadowBrook Investment Advisors LLC lifted its stake in shares of Broadcom by 3,171.4% in the 2nd quarter. MeadowBrook Investment Advisors LLC now owns 229 shares of the semiconductor manufacturer’s stock valued at $368,000 after purchasing an additional 222 shares during the last quarter. Institutional investors and hedge funds 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.