2 weeks Ago By Defense World Staff
Broadcom (NASDAQ:AVGO – Free Report) had its target price decreased by Barclays from $260.00 to $215.00 in a report issued on Tuesday morning,Benzinga reports.
Barclays currently has an overweight rating on the semiconductor manufacturer’s stock.A number of other research analysts also recently issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and set a $250.
00 price objective on shares of Broadcom in a research note on Friday, March 7th. Bank of America reduced their price objective on shares of Broadcom from $260.00 to $240.
00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Truist Financial increased their price objective on shares of Broadcom from $260.00 to $267.
00 and gave the company a “buy” rating in a report on Friday, March 7th. Mizuho cut their target price on shares of Broadcom from $260.00 to $250.
00 and set an “outperform” rating for the company in a report on Friday, March 7th. Finally, William Blair restated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company.
Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.48.View Our Latest Stock Report on BroadcomBroadcom Stock PerformanceAVGO opened at $169.
58 on Tuesday. Broadcom has a 12-month low of $122.33 and a 12-month high of $251.
88. The company has a market cap of $797.36 billion, a price-to-earnings ratio of 138.
32, a PEG ratio of 2.29 and a beta of 1.05.
The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.
98. The company’s 50 day moving average is $187.11 and its 200 day moving average is $195.
98. Broadcom announced that its board has authorized a share buyback program on Monday, April 7th that allows the company to repurchase $10.00 billion in shares.
This repurchase authorization allows the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
Broadcom Announces DividendThe firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were given a dividend of $0.59 per share.
This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.39%.
The ex-dividend date was Thursday, March 20th. Broadcom’s payout ratio is presently 113.46%.
Insider Buying and SellingIn other Broadcom news, Director Justine Page sold 800 shares of the firm’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.
00. Following the completion of the transaction, the director now owns 25,380 shares of the company’s stock, valued at approximately $4,695,300. This trade represents a 3.
06 % 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 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 sale, the insider now owns 465,956 shares of the company’s stock, valued at $83,872,080. The trade was a 5.09 % decrease in their ownership of the stock.
The disclosure for this sale can be found here. Insiders have sold a total of 719,776 shares of company stock worth $131,065,542 in the last ninety days. 2.
00% of the stock is owned by insiders. Hedge Funds Weigh In On BroadcomHedge funds and other institutional investors have recently added to or reduced their stakes in the company. Canton Hathaway LLC purchased a new stake in Broadcom in the fourth quarter valued at approximately $26,000.
Rialto Wealth Management LLC acquired a new stake in Broadcom during the 4th quarter valued at approximately $26,000. Inlight Wealth Management LLC purchased a new stake in shares of Broadcom in the 1st quarter valued at $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. purchased a new position in shares of Broadcom during the fourth quarter worth $30,000. Hedge funds and other institutional investors own 76.
43% of the company’s stock. About Broadcom (Get Free Report)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.
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