Revenue Estimates Analysis Broadcom Limited (AVGO)

Revenue Estimates Analysis Broadcom Limited (AVGO)

Broadcom Ltd (NASDAQ:AVGO) has earned an average rating of "Buy" from the forty research firms that are now covering the stock, Marketbeat.com reports. On Friday, June 3 the stock rating was maintained by Sterne Agee CRT with "Buy".

The stock decreased 0.74% or $1.96 during the last trading session, reaching $261.65.

Broadcom Limited (AVGO) has an annual dividend of $4.08, while its annual dividend yield is 1.56%. 179,559 shares or 50.22% more from 119,529 shares in 2017Q1 were reported.

Analysts on average were expecting revenue of $4.83 billion, according to Thomson Reuters I/B/E/S. Broadcom also raised its quarterly dividend to $1.75 per share from $1.02.

Sales in Broadcom's wireless-communications unit, which brings in more than a third of revenue, grew 33%, while sales in wired infrastructure, which account for 45% of sales, edged up 3%. Broadcom now has a consensus rating of "Buy" and an average price target of $293.51.

In related news, CEO Hock E. Tan sold 65,000 shares of the stock in a transaction that occurred on Monday, March 6th.

Net income in the period ended Oct 29 was US$671 million, or US$1.50 a share, compared with a loss of US$668 million, or US$1.59, a year earlier. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas H. Krause sold 2,595 shares of the company's stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $244.01, for a total transaction of $7,320,300.00. The disclosure for this sale can be found here.

The company said it wouldn't answer questions about the bid or its planned move from Singapore to the U.S. Capital Research Global Investors is the second biggest holder with 30 million shares now valued at 6.91 B million whilst Vanguard Group Inc has 28 million shares valued at 6.42 B million. Integrated Investment Consultants LLC now owns 792 shares of the semiconductor manufacturer's stock worth $185,000 after buying an additional 625 shares in the last quarter. Mn Services Vermogensbeheer B.V. now owns 66,222 shares of the semiconductor manufacturer's stock worth $15,433,000 after buying an additional 55,492 shares in the last quarter. SunTrust Banks reissued a "buy" rating and issued a $281.00 price target on shares of Broadcom in a report on Thursday, October 12th. Eqis Management Incorporated owns 16,082 shares or 0.21% of their United States portfolio.

Analyst Recommendations are opinions given by analysts to their clients about whether a given stock is worth buying or not. Finally, Jennison Associates LLC increased its stake in shares of Broadcom by 904.2% in the first quarter. Institutional investors and hedge funds own 88.99% of the company's stock. 10,861,291 shares of the company's stock traded hands. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.84 billion. Investors bought 838 call options on the company.

Broadcom (NASDAQ:AVGO) is up 4.4% in after-hours trade following fiscal Q4 earnings where it beat the Street thanks to healthy demand for wireless chips spurred by smartphones. The semiconductor manufacturer reported $4.59 EPS for the quarter, beating the Zacks' consensus estimate of $4.49 by $0.10.

The chipmaker posted revenue of $4.84 billion in the period, which also beat Street forecasts. During the same period in the previous year, the firm posted $2.53 earnings per share. CLSA initiated the stock with "Outperform" rating in Tuesday, May 17 report.

Net revenue rose to $4.84 billion from $4.14 billion.

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