Broadcom (AVGO) Set to Announce Earnings on Thursday

Broadcom (NASDAQ:AVGO) is preparing to release its quarterly earnings on December 12th, after the market closes. Analysts are projecting that Broadcom will report earnings of $1.39 per share for this quarter. Investors who wish to participate in the company's conference call can access it through an available link.

In its last earnings announcement on September 5th, Broadcom reported earnings per share (EPS) of $1.24, exceeding analysts' expectations of $1.20 by $0.04. The company has demonstrated a robust return on equity of 30.12% and a net margin of 10.88%. For this quarter, Broadcom's revenue reached $13.07 billion, surpassing the consensus estimate of $12.98 billion. In comparison to the same quarter last year, where it posted $0.95 EPS, the company's revenue saw a remarkable increase of 47.3%. Analysts predict that Broadcom will post $4 EPS for the current fiscal year and $5 EPS for the following year.

Broadcom Price Performance

The opening share price of Broadcom was $170.56 on Thursday. The company maintains a current ratio of 1.04, a quick ratio of 0.94, and a debt-to-equity ratio of 1.02. Broadcom’s stock has a 50-day simple moving average of $173.02 and a 200-day simple moving average of $162.31. The company boasts a market capitalization of $796.61 billion, with a price-to-earnings ratio of 148.18 and a PEG ratio of 1.96. Broadcom's stock has ranged from a low of $90.31 to a high of $186.42 over the past year.

Insider Trading Activity

In recent insider activity, CEO Hock E. Tan sold 50,000 shares of Broadcom stock on September 17th at an average price of $163.37, totaling approximately $8.17 million. After this sale, he owns about 1.33 million shares, valued at around $217.59 million, representing a decrease of 3.62% in his ownership. Another insider, Charlie B. Kawwas, sold 15,950 shares on October 11th at an average price of $181.44, totaling nearly $2.89 million and reducing his ownership by 2.12%. In the last quarter, insiders have sold a total of 311,080 shares, amounting to $53.54 million. Corporate insiders currently own 2.00% of the company's stock.

Analyst Price Targets

Various equity analysts have recently issued their opinions on Broadcom shares. Cantor Fitzgerald increased its price target from $200.00 to $225.00, giving the stock an “overweight” rating. Similarly, Mizuho raised its price target from $190.00 to $220.00, labeling the stock as “outperform.” Truist Financial also increased its target to $205.00, maintaining a “buy” rating. Analyst forecasts from JPMorgan Chase & Co. suggest a target of $210.00, while Benchmark reiterated a “buy” rating with a price target set at $210.00 as well. Overall, two analysts have rated the stock as hold, twenty-three have given buy ratings, and one has assigned a strong buy rating. According to data from MarketBeat, the average analyst rating for Broadcom is “Moderate Buy,” with an average target price of $195.96.

About Broadcom

Broadcom Inc. specializes in designing, developing, and supplying a range of semiconductor devices, focusing on complex digital and mixed-signal complementary metal oxide semiconductors and analog III-V based products across the globe. The company operates in two primary segments: Semiconductor Solutions and Infrastructure Software.

Broadcom, Earnings, Stocks