Broadcom Inc (NASDAQ:AVGO) Expected to Post Earnings of $5.16 Per Share

Equities analysts expect that Broadcom Inc (NASDAQ:AVGO) will post earnings of $5.16 per share for the current quarter, according to Zacks Investment Research. Ten analysts have made estimates for Broadcom’s earnings, with estimates ranging from $4.87 to $5.96. Broadcom reported earnings of $4.98 per share in the same quarter last year, which would suggest a positive year over year growth rate of 3.6%. The business is scheduled to issue its next quarterly earnings report on Thursday, September 5th.

On average, analysts expect that Broadcom will report full year earnings of $21.50 per share for the current year, with EPS estimates ranging from $20.74 to $23.41. For the next fiscal year, analysts forecast that the company will report earnings of $23.58 per share, with EPS estimates ranging from $21.53 to $26.98. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Broadcom.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share for the quarter, topping analysts’ consensus estimates of $5.18 by $0.03. Broadcom had a return on equity of 32.81% and a net margin of 15.92%. The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the prior year, the firm earned $4.88 EPS. The business’s quarterly revenue was up 10.0% on a year-over-year basis.

Several research firms recently commented on AVGO. KeyCorp restated an “overweight” rating and issued a $335.00 target price (up from $310.00) on shares of Broadcom in a research report on Tuesday, April 2nd. ValuEngine upgraded Broadcom from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. BidaskClub cut Broadcom from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Rosenblatt Securities restated a “buy” rating and issued a $350.00 target price on shares of Broadcom in a research report on Monday, June 10th. Finally, Craig Hallum restated a “buy” rating and issued a $315.00 target price (down from $325.00) on shares of Broadcom in a research report on Friday, June 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-nine have issued a buy rating to the stock. Broadcom presently has an average rating of “Buy” and a consensus target price of $297.62.

AVGO opened at $287.86 on Friday. Broadcom has a 12 month low of $197.46 and a 12 month high of $323.20. 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 firm has a market cap of $113.73 billion, a PE ratio of 15.29, a P/E/G ratio of 1.31 and a beta of 0.87. The firm has a 50 day simple moving average of $274.84.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Monday, June 24th will be paid a dividend of $2.65 per share. This represents a $10.60 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Friday, June 21st. Broadcom’s payout ratio is currently 56.29%.

In other news, insider Kirsten M. Spears sold 4,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $306.31, for a total transaction of $1,225,240.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Bryan Ingram sold 11,922 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $278.58, for a total value of $3,321,230.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,388 shares of company stock valued at $22,927,022. 3.30% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVGO. Norges Bank bought a new stake in shares of Broadcom during the 4th quarter worth $1,055,582,000. FMR LLC boosted its stake in shares of Broadcom by 3.8% during the 4th quarter. FMR LLC now owns 10,192,760 shares of the semiconductor manufacturer’s stock worth $2,591,815,000 after acquiring an additional 374,911 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Broadcom by 10.9% during the 1st quarter. Jennison Associates LLC now owns 3,650,806 shares of the semiconductor manufacturer’s stock worth $1,097,834,000 after acquiring an additional 359,736 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Broadcom by 123.3% during the 1st quarter. SG Americas Securities LLC now owns 59,322 shares of the semiconductor manufacturer’s stock worth $17,839,000 after acquiring an additional 314,335 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its stake in shares of Broadcom by 24.9% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,484,894 shares of the semiconductor manufacturer’s stock worth $377,579,000 after acquiring an additional 296,309 shares in the last quarter. 83.91% of the stock is owned by institutional investors and hedge funds.

About Broadcom

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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