Broadcom (NASDAQ:AVGO) Given New $225.00 Price Target at Jefferies Financial Group

Broadcom (NASDAQ:AVGO) had its price objective hoisted by Jefferies Financial Group from $205.00 to $225.00 in a report issued on Friday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the semiconductor manufacturer’s stock.

AVGO has been the subject of several other reports. Bank of America raised their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday. Hsbc Global Res raised Broadcom to a “hold” rating in a report on Tuesday, December 3rd. UBS Group upped their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. lifted their target price on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $240.00 price target on shares of Broadcom in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.33.

Broadcom Stock Performance

AVGO opened at $224.80 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom has a 12-month low of $104.15 and a 12-month high of $228.70. The business has a 50 day moving average of $174.61 and a 200-day moving average of $164.45. The stock has a market cap of $1.05 trillion, a price-to-earnings ratio of 182.76, a PEG ratio of 2.15 and a beta of 1.13.

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

Broadcom Increases Dividend

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

Insider Buying and Selling at Broadcom

In related 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 sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This represents a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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. This represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by company insiders.

Institutional Trading of Broadcom

Institutional investors have recently added to or reduced their stakes in the stock. Richardson Financial Services Inc. boosted its stake in shares of Broadcom by 2.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock valued at $415,000 after purchasing an additional 59 shares during the last quarter. Delta Investment Management LLC lifted its holdings in Broadcom by 14.9% in the second quarter. Delta Investment Management LLC now owns 510 shares of the semiconductor manufacturer’s stock valued at $818,000 after buying an additional 66 shares during the period. Raab & Moskowitz Asset Management LLC boosted its position in Broadcom by 6.2% during the second quarter. Raab & Moskowitz Asset Management LLC now owns 1,156 shares of the semiconductor manufacturer’s stock valued at $1,856,000 after acquiring an additional 67 shares during the last quarter. Zimmermann Investment Management & Planning LLC lifted its stake in shares of Broadcom by 4.0% in the 2nd quarter. Zimmermann Investment Management & Planning LLC now owns 1,755 shares of the semiconductor manufacturer’s stock valued at $2,818,000 after purchasing an additional 68 shares during the period. Finally, Decatur Capital Management Inc. lifted its stake in shares of Broadcom by 2.2% in the 2nd quarter. Decatur Capital Management Inc. now owns 3,166 shares of the semiconductor manufacturer’s stock valued at $5,083,000 after purchasing an additional 68 shares during the period. 76.43% of the stock is currently owned by institutional investors.

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.