Broadcom (NASDAQ:AVGO) Trading Up 0.8%

Broadcom Inc. (NASDAQ:AVGO)’s stock price rose 0.8% on Friday . The stock traded as high as $1,406.92 and last traded at $1,405.12. Approximately 351,258 shares were traded during trading, a decline of 87% from the average daily volume of 2,756,912 shares. The stock had previously closed at $1,393.29.

Wall Street Analyst Weigh In

Several analysts have issued reports on AVGO shares. Jefferies Financial Group began coverage on Broadcom in a research note on Monday, May 13th. They issued a “buy” rating and a $1,550.00 price objective on the stock. Mizuho boosted their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Benchmark reiterated a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a report on Thursday, March 21st. Finally, UBS Group boosted their target price on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Three analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $1,296.91.

Broadcom Trading Up 1.2 %

The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $653.46 billion, a P/E ratio of 52.08, a P/E/G ratio of 2.78 and a beta of 1.25. The stock has a 50 day moving average of $1,321.19 and a 200-day moving average of $1,197.06.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.83 earnings per share. On average, research analysts predict that Broadcom Inc. will post 36.06 EPS for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.49%. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Insider Activity at Broadcom

In related news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the sale, the director now 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 available through the SEC website. In other news, Director Kenneth Hao sold 9,160 shares of the firm’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 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Broadcom

Institutional investors have recently made changes to their positions in the company. Stuart Chaussee & Associates Inc. bought a new position in shares of Broadcom during the fourth quarter valued at approximately $25,000. Legend Financial Advisors Inc. boosted its position in Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 8 shares in the last quarter. PSI Advisors LLC boosted its holdings in shares of Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 10 shares in the last quarter. BKM Wealth Management LLC purchased a new position in shares of Broadcom in the 4th quarter worth approximately $29,000. Finally, Richardson Capital Management LLC bought a new position in shares of Broadcom during the 1st quarter worth approximately $29,000. Hedge funds and other 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.