Wall Street analysts expect Broadcom Limited (NASDAQ:AVGO) to report $3.50 earnings per share (EPS) for the current quarter, according to Zacks. Eleven analysts have issued estimates for Broadcom Limited’s earnings. The lowest EPS estimate is $3.46 and the highest is $3.57. Broadcom Limited reported earnings of $2.47 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 41.7%. The business is expected to report its next quarterly earnings results on Thursday, September 7th.
According to Zacks, analysts expect that Broadcom Limited will report full-year earnings of $13.78 per share for the current financial year, with EPS estimates ranging from $13.40 to $14.07. For the next fiscal year, analysts expect that the firm will report earnings of $15.20 per share, with EPS estimates ranging from $14.50 to $16.22. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Broadcom Limited.
Broadcom Limited (NASDAQ:AVGO) last posted its earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 EPS for the quarter, beating the consensus estimate of $3.50 by $0.19. Broadcom Limited had a positive return on equity of 24.15% and a negative net margin of 1.54%. The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.11 billion. During the same quarter in the prior year, the business earned $2.53 earnings per share. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis.
AVGO has been the subject of several research analyst reports. Rosenblatt Securities restated a “buy” rating and set a $260.00 price target on shares of Broadcom Limited in a research note on Wednesday, May 31st. Instinet restated a “buy” rating and set a $260.00 price target (up previously from $230.00) on shares of Broadcom Limited in a research note on Wednesday, May 17th. UBS Group AG restated a “buy” rating and set a $265.00 price target on shares of Broadcom Limited in a research note on Monday, June 26th. Sanford C. Bernstein restated an “outperform” rating and set a $285.00 price target (up previously from $265.00) on shares of Broadcom Limited in a research note on Saturday, June 3rd. Finally, Canaccord Genuity restated a “buy” rating and set a $272.00 price target (up previously from $250.00) on shares of Broadcom Limited in a research note on Saturday, June 3rd. One equities research analyst has rated the stock with a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $263.29.
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In other news, SVP Bryan Ingram sold 30,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $253.41, for a total transaction of $7,602,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kirsten M. Spears sold 1,306 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $254.15, for a total transaction of $331,919.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,306 shares of company stock valued at $10,380,120. Insiders own 3.60% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. E&G Advisors LP purchased a new position in shares of Broadcom Limited during the first quarter valued at approximately $285,000. Pennsylvania Trust Co increased its position in shares of Broadcom Limited by 4.0% in the first quarter. Pennsylvania Trust Co now owns 37,501 shares of the semiconductor manufacturer’s stock valued at $8,211,000 after buying an additional 1,437 shares during the period. First American Bank increased its position in shares of Broadcom Limited by 21.8% in the first quarter. First American Bank now owns 38,754 shares of the semiconductor manufacturer’s stock valued at $8,486,000 after buying an additional 6,932 shares during the period. Quadrant Capital Group LLC increased its position in shares of Broadcom Limited by 5.8% in the first quarter. Quadrant Capital Group LLC now owns 1,344 shares of the semiconductor manufacturer’s stock valued at $283,000 after buying an additional 74 shares during the period. Finally, Koshinski Asset Management Inc. increased its position in shares of Broadcom Limited by 119.8% in the first quarter. Koshinski Asset Management Inc. now owns 13,792 shares of the semiconductor manufacturer’s stock valued at $3,020,000 after buying an additional 7,516 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.
Broadcom Limited (NASDAQ:AVGO) traded up 0.75% during trading on Thursday, hitting $250.88. The stock had a trading volume of 1,300,337 shares. The firm’s market capitalization is $102.01 billion. Broadcom Limited has a 1-year low of $156.69 and a 1-year high of $256.78. The firm has a 50 day moving average price of $241.21 and a 200-day moving average price of $214.99.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Monday, June 19th were paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Thursday, June 15th. Broadcom Limited’s dividend payout ratio (DPR) is -566.66%.
Broadcom Limited 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.
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