Deutsche Bank Aktiengesellschaft Raises Broadcom (NASDAQ:AVGO) Price Target to $240.00

Broadcom (NASDAQ:AVGO) had its price target increased by Deutsche Bank Aktiengesellschaft from $190.00 to $240.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

Several other equities research analysts have also recently weighed in on the company. William Blair started coverage on Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Cantor Fitzgerald boosted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Finally, UBS Group upped their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $220.33.

Broadcom Price Performance

Shares of AVGO opened at $224.80 on Friday. The firm has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 182.76, a PEG ratio of 2.15 and a beta of 1.13. The firm’s fifty day simple moving average is $174.61 and its 200-day simple moving average is $164.45. Broadcom has a twelve month low of $104.15 and a twelve month high of $228.70. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

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

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be given a dividend of $0.59 per share. The ex-dividend date is Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.05%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 172.36%.

Insider Transactions at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the sale, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 311,080 shares of company stock worth $53,540,590. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Broadcom

A number of large investors have recently made changes to their positions in AVGO. Castleview Partners LLC increased its holdings in Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. grew its holdings in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares during the period. JDM Financial Group LLC grew its holdings in shares of Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 172 shares during the period. Tsfg LLC raised its holdings in Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares during the last quarter. Finally, Cedar Wealth Management LLC raised its holdings in Broadcom by 900.0% during the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock worth $41,000 after purchasing an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

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.