Analysts Set Broadcom Inc. (NASDAQ:AVGO) Target Price at $272.71

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twenty-nine analysts that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $272.71.

Several research firms recently issued reports on AVGO. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Evercore ISI reiterated an "outperform" rating and set a $304.00 price objective (up from $267.00) on shares of Broadcom in a report on Friday, June 6th. Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research report on Friday, June 6th. William Blair reaffirmed an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Finally, Benchmark lifted their target price on Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a research report on Friday, June 6th.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction on Friday, April 11th. The stock was sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the completion of the sale, the insider now owns 465,956 shares of the company's stock, valued at approximately $83,872,080. This trade represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Henry Samueli sold 663,976 shares of the company's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the transaction, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tallon Kerry Patrick purchased a new position in Broadcom during the 4th quarter valued at $357,000. Capital & Planning LLC raised its position in shares of Broadcom by 15.3% in the 4th quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer's stock worth $969,000 after acquiring an additional 554 shares in the last quarter. LaFleur & Godfrey LLC boosted its position in shares of Broadcom by 18.7% during the fourth quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer's stock valued at $18,145,000 after purchasing an additional 12,345 shares in the last quarter. Brighton Jones LLC raised its holdings in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in Broadcom during the fourth quarter valued at $71,312,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Up 3.4%

Shares of AVGO stock traded up $8.28 on Wednesday, reaching $252.91. 24,555,780 shares of the company were exchanged, compared to its average volume of 30,980,596. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company has a 50-day moving average of $206.98 and a 200-day moving average of $207.63. The company has a market cap of $1.19 trillion, a price-to-earnings ratio of 206.29, a PEG ratio of 2.29 and a beta of 1.11. Broadcom has a one year low of $128.50 and a one year high of $265.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.01. The business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.96 earnings per share. Analysts anticipate that Broadcom will post 5.38 earnings per share for the current year.

Broadcom declared that its Board of Directors has authorized a stock buyback plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be issued a dividend of $0.59 per share. The ex-dividend date is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.93%. Broadcom's payout ratio is 88.39%.

Broadcom Company Profile

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.