Broadcom (AVGO) Posts Earnings Results, Beats Estimates By $0.07 EPS

Broadcom (NASDAQ:AVGO) issued its quarterly earnings data on Wednesday. The semiconductor manufacturer reported $4.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.52 by $0.07, Bloomberg Earnings reports. Broadcom had a return on equity of 26.82% and a net margin of 3.12%. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.84 billion. During the same period last year, the company earned $3.47 earnings per share. The firm’s revenue was up 17.1% compared to the same quarter last year.

Shares of Broadcom (AVGO) opened at $263.89 on Thursday. The company has a quick ratio of 3.84, a current ratio of 4.48 and a debt-to-equity ratio of 0.60. Broadcom has a one year low of $163.67 and a one year high of $285.68. The company has a market capitalization of $105,880.00, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 1.27 and a beta of 1.05.

In related news, CFO Thomas H. Krause sold 2,595 shares of Broadcom stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $267.34, for a total transaction of $693,747.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Charlie B. Kawwas sold 1,788 shares of Broadcom stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $247.28, for a total value of $442,136.64. The disclosure for this sale can be found here. Insiders sold 104,383 shares of company stock valued at $25,949,184 in the last three months. Insiders own 3.60% of the company’s stock.

A number of equities analysts have recently issued reports on AVGO shares. Barclays raised their price objective on Broadcom from $290.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. B. Riley raised their price objective on Broadcom from $305.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Vetr downgraded Broadcom from a “buy” rating to a “hold” rating and set a $261.95 price objective for the company. in a research report on Monday, September 4th. Zacks Investment Research raised Broadcom from a “hold” rating to a “buy” rating and set a $272.00 target price for the company in a research note on Tuesday, August 29th. Finally, KeyCorp reaffirmed a “buy” rating and set a $290.00 target price on shares of Broadcom in a research note on Tuesday, October 17th. Five investment analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the stock. Broadcom has a consensus rating of “Buy” and a consensus target price of $293.51.

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Broadcom Company Profile

Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

Earnings History for Broadcom (NASDAQ:AVGO)

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