Broadcom (NASDAQ:AVGO) Stock Price Up 1.8%

Broadcom Inc. (NASDAQ:AVGO) traded up 1.8% on Tuesday . The company traded as high as $1,257.53 and last traded at $1,246.69. 468,758 shares were traded during mid-day trading, a decline of 84% from the average session volume of 2,929,223 shares. The stock had previously closed at $1,224.46.

Analyst Ratings Changes

AVGO has been the subject of a number of recent analyst reports. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and upped their price target for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 target price on shares of Broadcom in a research note on Friday, January 19th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Benchmark restated a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Finally, Mizuho increased their target price on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Price Performance

The business’s 50-day moving average price is $1,304.30 and its 200 day moving average price is $1,125.79. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $582.03 billion, a P/E ratio of 46.21, a price-to-earnings-growth ratio of 2.46 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same period last year, the business earned $9.83 earnings per share. Broadcom’s revenue was up 34.2% compared to the same quarter last year. Analysts anticipate that Broadcom Inc. will post 35.88 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.67%. Broadcom’s dividend payout ratio is presently 77.84%.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 110 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the transaction, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares in the company, valued at approximately $62,465.85. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Justine Page sold 110 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the sale, the director now owns 3,125 shares of the company’s stock, valued at $4,134,375. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

Hedge funds have recently made changes to their positions in the business. Stanley Laman Group Ltd. bought a new stake in Broadcom during the 3rd quarter valued at $1,110,000. Impact Partnership Wealth LLC raised its holdings in Broadcom by 151.8% during the 3rd quarter. Impact Partnership Wealth LLC now owns 141 shares of the semiconductor manufacturer’s stock valued at $117,000 after buying an additional 85 shares during the last quarter. 1900 Wealth Management LLC raised its holdings in Broadcom by 120.3% during the 3rd quarter. 1900 Wealth Management LLC now owns 672 shares of the semiconductor manufacturer’s stock valued at $558,000 after buying an additional 367 shares during the last quarter. Kozak & Associates Inc. raised its holdings in Broadcom by 4.8% during the 3rd quarter. Kozak & Associates Inc. now owns 306 shares of the semiconductor manufacturer’s stock valued at $258,000 after buying an additional 14 shares during the last quarter. Finally, Avior Wealth Management LLC raised its holdings in Broadcom by 1.0% during the 3rd quarter. Avior Wealth Management LLC now owns 2,426 shares of the semiconductor manufacturer’s stock valued at $2,015,000 after buying an additional 23 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

About Broadcom

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. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.