What to Expect from Broadcom (AVGO) Q1 2023 Earnings Report?

Broadcom Stock

Broadcom Inc.(AVGO:NSD), a semiconductor manufacturer, is due to release its quarterly earnings on March 2nd after the market closes. Analysts predict the company will report earnings of $9.38 per share for the quarter, with a Q1 2023 guidance at EPS. The firm’s Q4 2022 results showed it had beaten estimates, with earnings per share of $9.75, compared to the predicted $9.50.

Broadcom’s revenue for Q4 2022 was $8.93 billion, beating the consensus estimate of $8.90 billion. The company’s return on equity was 70%, with a net margin of 34.62%. In the same period the previous year, the company earned $7.01 per share, and its revenue increased by 20.6% YoY. Analysts predict Broadcom will earn $37 EPS for the current fiscal year and $40 EPS for the next fiscal year.

 

Broadcom Stock Analysis:

As of Thursday, Broadcom stock opened at $576.17, with a market capitalization of $240.78 billion. Broadcom has a PE ratio of 21.74, a price-to-earnings-growth ratio of 1.25, and a beta of 1.10.

The company’s 50-day moving average price is $578.02, while its 200-day moving average price is $527.19. Broadcom stock price ranges from $415.07 to $645.31 over the past 52 weeks.

 

AVGO Stock Dividend:

Broadcom recently increased its quarterly dividend to $4.60 per share from the previous $4.10. This represents an annualized dividend of $18.40 and a yield of 3.19%. The company’s payout ratio is currently 69.43%.

 

Broadcom Stock-Analyst Ratings:

Several Wall Street analysts have rated Broadcom stock. Oppenheimer reiterated its “outperform” rating and set a $720.00 target price, while Deutsche Bank Aktiengesellschaft increased its target price from $575.00 to $590.00.

Susquehanna dropped its target price from $680.00 to $650.00, and Truist Financial dropped its target price from $662.00 to $659.00, maintaining a “buy” rating for the company. UBS Group also decreased its target price from $690.00 to $675.00. According to Stock Target Advisor, Broadcom stock currently has a consensus rating of “Strong Buy” and a consensus price target of $650.06.

 

Insider Transactions:

Regarding insider buying and selling, director Justine Page sold 170 shares at an average price of $574.86, with a total value of $97,726.20. Following the sale, Page owns 2,981 shares of Broadcom stock, worth $1,713,657.66. Company insiders own 2.30% of the AVGO stock.

 

Hedge Funds & Institutional Holdings:

Large investors have recently modified their holdings in Broadcom. Ascent Group LLC boosted its stake by 3.6%, while GHP Investment Advisors Inc. raised its holdings by 9.0%. WealthPLAN Partners LLC and American Trust also purchased new stakes, while Moneta Group Investment Advisors LLC increased its holdings by 22.9%. Currently, 81.28% of Broadcom stock is owned by institutional investors and hedge funds.

 

Company Profile:

Broadcom Inc. designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. Broadcom Inc. was incorporated in 2018 and is headquartered in San Jose, California.

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