Broadcom (NASDAQ:AVGO) Shares Down 0.6%

Broadcom Inc. (NASDAQ:AVGO)’s stock price traded down 0.6% during trading on Thursday . The stock traded as low as $1,382.47 and last traded at $1,384.00. 950,246 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 2,759,024 shares. The stock had previously closed at $1,392.24.

Analyst Ratings Changes

A number of research firms have recently issued reports on AVGO. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a report on Thursday, March 21st. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Barclays boosted their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. UBS Group boosted their price target on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Finally, Oppenheimer reissued an “outperform” rating and issued a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,296.91.

Broadcom Stock Performance

The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The company has a market capitalization of $641.14 billion, a P/E ratio of 51.50, a P/E/G ratio of 2.79 and a beta of 1.25. The business’s fifty day simple moving average is $1,318.57 and its 200-day simple moving average is $1,195.69.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping 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 business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same period last year, the company posted $9.83 EPS. The business’s revenue was up 34.2% on a year-over-year basis. As a group, equities analysts anticipate that Broadcom Inc. will post 36.06 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.52%. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the business’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 completion of the sale, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the transaction, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the director now 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 a total of 29,920 shares of company stock valued at $40,306,667 in the last three months. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Broadcom

Large investors have recently made changes to their positions in the business. WealthPlan Investment Management LLC purchased a new stake in Broadcom during the third quarter worth $435,000. SageView Advisory Group LLC raised its position in Broadcom by 20.3% during the third quarter. SageView Advisory Group LLC now owns 861 shares of the semiconductor manufacturer’s stock worth $715,000 after acquiring an additional 145 shares during the period. Main Street Research LLC raised its position in Broadcom by 30.3% during the third quarter. Main Street Research LLC now owns 818 shares of the semiconductor manufacturer’s stock worth $679,000 after acquiring an additional 190 shares during the period. Regent Peak Wealth Advisors LLC raised its position in Broadcom by 1.9% during the third quarter. Regent Peak Wealth Advisors LLC now owns 1,240 shares of the semiconductor manufacturer’s stock worth $1,030,000 after acquiring an additional 23 shares during the period. Finally, Cottonwood Capital Advisors LLC raised its position in Broadcom by 17.1% during the third quarter. Cottonwood Capital Advisors LLC now owns 356 shares of the semiconductor manufacturer’s stock worth $295,000 after acquiring an additional 52 shares during the period. 76.43% of the stock is 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.