$5.41 Billion in Sales Expected for Broadcom Inc (AVGO) This Quarter

Equities analysts predict that Broadcom Inc (NASDAQ:AVGO) will report $5.41 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have made estimates for Broadcom’s earnings, with the highest sales estimate coming in at $5.43 billion and the lowest estimate coming in at $5.40 billion. Broadcom posted sales of $4.84 billion during the same quarter last year, which suggests a positive year over year growth rate of 11.8%. The business is expected to report its next quarterly earnings results on Wednesday, December 5th.

According to Zacks, analysts expect that Broadcom will report full-year sales of $21.03 billion for the current fiscal year, with estimates ranging from $20.80 billion to $23.11 billion. For the next year, analysts expect that the firm will post sales of $21.43 billion, with estimates ranging from $20.41 billion to $21.89 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Broadcom.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 6th. The semiconductor manufacturer reported $4.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.82 by $0.16. Broadcom had a net margin of 58.18% and a return on equity of 28.54%. The company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the prior year, the business posted $4.10 EPS. Broadcom’s quarterly revenue was up 13.4% on a year-over-year basis.

Several analysts recently issued reports on the stock. BidaskClub downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Raymond James downgraded shares of Broadcom from an “outperform” rating to a “market perform” rating in a report on Friday, July 13th. Cowen decreased their price objective on shares of Broadcom from $300.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, July 12th. Longbow Research downgraded shares of Broadcom from a “buy” rating to a “neutral” rating in a report on Thursday, July 12th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $230.00 price objective on shares of Broadcom in a report on Friday, September 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-one have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $290.77.

In other news, insider Kirsten M. Spears sold 1,194 shares of Broadcom stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $246.52, for a total transaction of $294,344.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $238.62, for a total transaction of $4,772,400.00. The disclosure for this sale can be found here. Insiders sold a total of 61,194 shares of company stock valued at $13,785,345 in the last 90 days. Corporate insiders own 3.30% of the company’s stock.

Several large investors have recently modified their holdings of AVGO. Congress Asset Management Co. MA boosted its stake in Broadcom by 0.9% during the 3rd quarter. Congress Asset Management Co. MA now owns 34,263 shares of the semiconductor manufacturer’s stock worth $8,454,000 after acquiring an additional 305 shares during the last quarter. Bainco International Investors boosted its stake in Broadcom by 0.6% during the 3rd quarter. Bainco International Investors now owns 56,077 shares of the semiconductor manufacturer’s stock worth $13,836,000 after acquiring an additional 325 shares during the last quarter. Triangle Securities Wealth Management boosted its stake in Broadcom by 12.7% during the 3rd quarter. Triangle Securities Wealth Management now owns 2,914 shares of the semiconductor manufacturer’s stock worth $719,000 after acquiring an additional 328 shares during the last quarter. LFA Lugano Financial Advisors SA boosted its stake in Broadcom by 10.8% during the 3rd quarter. LFA Lugano Financial Advisors SA now owns 3,592 shares of the semiconductor manufacturer’s stock worth $886,000 after acquiring an additional 350 shares during the last quarter. Finally, BKS Advisors LLC boosted its stake in Broadcom by 1.4% during the 3rd quarter. BKS Advisors LLC now owns 26,471 shares of the semiconductor manufacturer’s stock worth $6,531,000 after acquiring an additional 369 shares during the last quarter. Institutional investors own 88.01% of the company’s stock.

Shares of NASDAQ AVGO traded down $9.09 during trading hours on Friday, hitting $213.15. 5,333,600 shares of the stock were exchanged, compared to its average volume of 4,235,536. The company has a current ratio of 3.98, a quick ratio of 3.42 and a debt-to-equity ratio of 0.64. The company has a market cap of $94.52 billion, a P/E ratio of 14.91, a P/E/G ratio of 0.95 and a beta of 0.90. Broadcom has a one year low of $197.46 and a one year high of $285.68.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Wednesday, September 19th were given a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 3.28%. The ex-dividend date was Tuesday, September 18th. Broadcom’s payout ratio is presently 48.95%.

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.

Recommended Story: Why do earnings reports matter?

Get a free copy of the Zacks research report on Broadcom (AVGO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Broadcom (NASDAQ:AVGO)

Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply