BidaskClub downgraded shares of Broadcom (NASDAQ:AVGO) from a buy rating to a hold rating in a research report sent to investors on Tuesday, BidAskClub reports.

A number of other research analysts have also recently commented on AVGO. JPMorgan Chase & Co. set a $24.00 price target on shares of Urovant Sciences and gave the stock a buy rating in a research note on Friday, June 14th. Loop Capital raised their price target on shares of Broadcom to $315.00 and gave the stock a buy rating in a research note on Monday, March 18th. Craig Hallum restated a buy rating and set a $315.00 price target (down previously from $325.00) on shares of Broadcom in a research note on Friday, June 14th. BMO Capital Markets restated a hold rating and set a $9.50 price target on shares of Vicon Industries in a research note on Friday, June 14th. Finally, Rosenblatt Securities restated a buy rating and set a $350.00 price target on shares of Broadcom in a research note on Monday, June 10th. Ten investment analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. The company presently has an average rating of Buy and an average target price of $298.56.

NASDAQ AVGO opened at $285.39 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 1.53. The company has a 50-day moving average of $273.07. Broadcom has a twelve month low of $200.53 and a twelve month high of $323.20. The company has a market capitalization of $113.61 billion, a PE ratio of 15.16, a PEG ratio of 1.35 and a beta of 0.94.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.18 by $0.03. Broadcom had a net margin of 15.92% and a return on equity of 32.81%. The business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter last year, the company earned $4.88 earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts predict that Broadcom will post 17.3 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Monday, June 24th were paid a $2.65 dividend. This represents a $10.60 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend was Friday, June 21st. Broadcom’s dividend payout ratio (DPR) is currently 56.29%.

In related news, SVP Bryan Ingram sold 11,922 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $278.58, for a total value of $3,321,230.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $315.07, for a total transaction of $6,301,400.00. The disclosure for this sale can be found here. Insiders sold 65,388 shares of company stock valued at $18,656,682 in the last quarter. 3.30% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the stock. BTIM Corp. increased its holdings in shares of Broadcom by 1.7% in the first quarter. BTIM Corp. now owns 1,883 shares of the semiconductor manufacturer’s stock valued at $566,000 after purchasing an additional 32 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Broadcom by 9.1% in the first quarter. Parkside Financial Bank & Trust now owns 395 shares of the semiconductor manufacturer’s stock valued at $119,000 after purchasing an additional 33 shares in the last quarter. Lindbrook Capital LLC increased its holdings in shares of Broadcom by 5.4% in the first quarter. Lindbrook Capital LLC now owns 662 shares of the semiconductor manufacturer’s stock valued at $199,000 after purchasing an additional 34 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in shares of Broadcom by 1.4% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 2,948 shares of the semiconductor manufacturer’s stock valued at $886,000 after purchasing an additional 40 shares in the last quarter. Finally, Lenox Wealth Advisors LLC increased its holdings in shares of Broadcom by 27.4% in the second quarter. Lenox Wealth Advisors LLC now owns 186 shares of the semiconductor manufacturer’s stock valued at $54,000 after purchasing an additional 40 shares in the last quarter. 83.91% of the stock is owned by institutional investors and hedge funds.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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