Broadcom (NASDAQ:AVGO) Trading Down 0.6%

Broadcom Inc. (NASDAQ:AVGO)’s share price traded down 0.6% during trading on Monday . The company traded as low as $1,325.70 and last traded at $1,336.61. 396,015 shares were traded during trading, a decline of 86% from the average session volume of 2,903,808 shares. The stock had previously closed at $1,344.07.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Barclays raised their price objective on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Susquehanna raised their target price on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and raised their target price for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Benchmark reaffirmed a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a report on Thursday, March 21st. Finally, UBS Group raised their target price on Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Stock Performance

The firm has a market cap of $620.23 billion, a PE ratio of 49.58, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. The company has a 50 day simple moving average of $1,306.70 and a 200-day simple moving average of $1,137.84. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $9.83 earnings per share. As a group, equities research analysts anticipate that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was 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 of the company’s stock, valued at approximately $62,465.85. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 over the last quarter. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Broadcom

A number of institutional investors have recently added to or reduced their stakes in AVGO. PDS Planning Inc raised its holdings in Broadcom by 2.5% in the third quarter. PDS Planning Inc now owns 1,618 shares of the semiconductor manufacturer’s stock worth $1,344,000 after purchasing an additional 40 shares in the last quarter. Cavalier Investments LLC increased its holdings in shares of Broadcom by 3.7% during the third quarter. Cavalier Investments LLC now owns 1,969 shares of the semiconductor manufacturer’s stock valued at $1,635,000 after acquiring an additional 70 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Broadcom by 9.5% during the third quarter. Commonwealth Equity Services LLC now owns 99,621 shares of the semiconductor manufacturer’s stock valued at $82,743,000 after acquiring an additional 8,644 shares in the last quarter. FAS Wealth Partners Inc. increased its holdings in shares of Broadcom by 2.4% during the third quarter. FAS Wealth Partners Inc. now owns 3,960 shares of the semiconductor manufacturer’s stock valued at $3,289,000 after acquiring an additional 93 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA increased its holdings in shares of Broadcom by 8.7% during the third quarter. Compagnie Lombard Odier SCmA now owns 45,098 shares of the semiconductor manufacturer’s stock valued at $37,457,000 after acquiring an additional 3,618 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

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.