Broadcom (NASDAQ:AVGO) Trading Down 1.1% – Time to Sell?

Broadcom Inc. (NASDAQ:AVGO)’s share price fell 1.1% during trading on Monday . The company traded as low as $414.37 and last traded at $420.71. 16,906,037 shares were traded during trading, a decline of 31% from the average session volume of 24,641,506 shares. The stock had previously closed at $425.19.

Analysts Set New Price Targets

AVGO has been the topic of a number of research analyst reports. Wolfe Research raised Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 price target on the stock in a research note on Friday, January 30th. Seaport Research Partners restated a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. DA Davidson raised shares of Broadcom to a “hold” rating in a research note on Friday, February 13th. Zacks Research raised shares of Broadcom from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Finally, Citigroup reiterated a “buy” rating and issued a $500.00 target price (up from $475.00) on shares of Broadcom in a research report on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $442.13.

Broadcom Stock Performance

The stock has a 50-day moving average of $365.61 and a 200 day moving average of $354.56. The stock has a market cap of $1.99 trillion, a PE ratio of 82.17, a P/E/G ratio of 0.88 and a beta of 1.43. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company had revenue of $19.31 billion during the quarter, compared to analysts’ expectations of $19.10 billion. During the same period in the prior year, the business earned $1.60 EPS. The firm’s quarterly revenue was up 29.5% on a year-over-year basis. Equities analysts predict that Broadcom Inc. will post 9.95 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. Broadcom’s dividend payout ratio is currently 50.78%.

Insider Activity

In other Broadcom news, insider S. Ram Velaga sold 8,000 shares of Broadcom stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the transaction, the insider directly owned 57,932 shares of the company’s stock, valued at $21,464,964.64. The trade was a 12.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the business’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the completion of the transaction, the insider owned 787,184 shares in the company, valued at $271,759,532.32. The trade was a 1.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 324,282 shares of company stock valued at $106,425,249 in the last quarter. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. ROSS JOHNSON & Associates LLC lifted its position in Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 66 shares during the last quarter. Networth Advisors LLC increased its position in shares of Broadcom by 546.2% during the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 71 shares during the last quarter. SWAN Capital LLC raised its stake in shares of Broadcom by 261.9% in the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 55 shares during the period. JCIC Asset Management Inc. purchased a new stake in shares of Broadcom in the 3rd quarter valued at approximately $31,000. Finally, Miller Global Investments LLC acquired a new position in shares of Broadcom in the 4th quarter worth approximately $31,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.