Broadcom (NASDAQ:AVGO) Shares Down 0.4%

Shares of Broadcom Inc. (NASDAQ:AVGO) were down 0.4% on Tuesday . The company traded as low as $1,345.39 and last traded at $1,345.90. Approximately 564,107 shares traded hands during trading, a decline of 82% from the average daily volume of 3,093,455 shares. The stock had previously closed at $1,351.58.

Analyst Ratings Changes

Several research firms have recently issued reports on AVGO. Benchmark restated a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Rosenblatt Securities reissued a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a report on Thursday, March 21st. The Goldman Sachs Group restated a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a research note on Friday, January 19th. Finally, Summit Insights upgraded Broadcom from a “hold” rating to a “buy” rating in a research report on Friday, December 8th. Three analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,230.18.

Broadcom Stock Down 1.0 %

The stock has a market cap of $611.13 billion, a PE ratio of 48.88, a price-to-earnings-growth ratio of 2.85 and a beta of 1.26. The business has a 50-day moving average price of $1,267.55 and a 200-day moving average price of $1,061.46. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter last year, the business earned $9.83 earnings per share. As a group, analysts forecast that Broadcom Inc. will post 36.8 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, March 21st will be issued a dividend of $5.25 per share. The ex-dividend date of this dividend is Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.59%. Broadcom’s payout ratio is currently 77.84%.

Insider Activity

In related news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares in the company, valued at $62,465.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kirsten M. Spears sold 2,500 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the sale, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The disclosure for this sale can be found here. Insiders have sold a total of 19,810 shares of company stock worth $26,107,692 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Broadcom

Large investors have recently added to or reduced their stakes in the stock. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Broadcom in the 4th quarter valued at approximately $25,000. PSI Advisors LLC lifted its holdings in Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 10 shares during the last quarter. BKM Wealth Management LLC purchased a new position in Broadcom in the fourth quarter worth approximately $29,000. CKW Financial Group acquired a new stake in Broadcom during the fourth quarter worth $30,000. Finally, Bollard Group LLC purchased a new stake in Broadcom in the second quarter valued at $26,000. 76.43% of the stock is currently owned by hedge funds and other 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.