Broadcom Inc. (NASDAQ:AVGO) Expected to Post FY2024 Earnings of $3.80 Per Share

Broadcom Inc. (NASDAQ:AVGO) – Equities research analysts at William Blair issued their FY2024 EPS estimates for Broadcom in a research note issued on Wednesday, September 18th. William Blair analyst S. Naji anticipates that the semiconductor manufacturer will earn $3.80 per share for the year. William Blair has a “Outperform” rating on the stock. The consensus estimate for Broadcom’s current full-year earnings is $3.77 per share. William Blair also issued estimates for Broadcom’s Q4 2024 earnings at $1.15 EPS, Q1 2025 earnings at $1.32 EPS, Q2 2025 earnings at $1.39 EPS, Q3 2025 earnings at $1.45 EPS, Q4 2025 earnings at $1.52 EPS and FY2025 earnings at $5.69 EPS.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter last year, the firm posted $0.95 earnings per share. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley boosted their price target on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Melius Research initiated coverage on Broadcom in a report on Monday, June 3rd. They issued a “buy” rating and a $185.00 target price on the stock. The Goldman Sachs Group lifted their price target on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Barclays increased their price target on shares of Broadcom from $150.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, June 13th. Finally, Piper Sandler boosted their target price on Broadcom from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, June 13th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average target price of $189.23.

Broadcom Trading Up 1.1 %

AVGO opened at $172.94 on Monday. Broadcom has a 12 month low of $80.44 and a 12 month high of $185.16. The stock has a market capitalization of $805.01 billion, a price-to-earnings ratio of 7.44, a PEG ratio of 2.55 and a beta of 1.16. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The business has a fifty day moving average price of $156.84 and a 200 day moving average price of $147.14.

Institutional Trading of Broadcom

Institutional investors and hedge funds have recently made changes to their positions in the stock. Greater Midwest Financial Group LLC boosted its position in Broadcom by 868.6% during the second quarter. Greater Midwest Financial Group LLC now owns 47,925 shares of the semiconductor manufacturer’s stock worth $76,945,000 after acquiring an additional 42,977 shares during the last quarter. Centaurus Financial Inc. boosted its stake in Broadcom by 51.6% in the 2nd quarter. Centaurus Financial Inc. now owns 7,086 shares of the semiconductor manufacturer’s stock worth $11,377,000 after buying an additional 2,412 shares during the last quarter. Summit Wealth Partners LLC grew its holdings in Broadcom by 100.4% in the 2nd quarter. Summit Wealth Partners LLC now owns 499 shares of the semiconductor manufacturer’s stock valued at $801,000 after buying an additional 250 shares during the period. Newbridge Financial Services Group Inc. lifted its holdings in shares of Broadcom by 71.8% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,441 shares of the semiconductor manufacturer’s stock worth $2,314,000 after acquiring an additional 602 shares during the period. Finally, Heritage Wealth Management Inc. acquired a new stake in shares of Broadcom in the second quarter worth approximately $1,381,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom 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 completion of the transaction, the insider now directly owns 753,280 shares of the company’s stock, valued at $126,754,425.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the completion of the transaction, the chief executive officer now directly owns 138,191 shares in the company, valued at approximately $235,746,936.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. The disclosure for this sale can be found here. Insiders have sold 82,702 shares of company stock valued at $25,206,941 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.23%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is presently 9.12%.

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.