Broadcom (NASDAQ:AVGO) Stock Price Up 0.2%

Broadcom Inc. (NASDAQ:AVGO)’s share price rose 0.2% during mid-day trading on Monday . The company traded as high as $173.50 and last traded at $170.48. Approximately 5,346,563 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 32,220,496 shares. The stock had previously closed at $170.07.

Analyst Ratings Changes

AVGO has been the subject of a number of recent research reports. Truist Financial lifted their price target on shares of Broadcom from $156.60 to $204.50 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Sanford C. Bernstein lifted their price target on shares of Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. Mizuho lifted their price target on shares of Broadcom from $162.50 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Melius Research began coverage on shares of Broadcom in a research note on Monday, June 3rd. They issued a “buy” rating and a $185.00 price target for the company. Finally, Evercore ISI raised their price objective on shares of Broadcom from $162.00 to $201.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. Three analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $170.64.

Broadcom Trading Down 0.0 %

The business’s 50-day moving average is $182.63 and its two-hundred day moving average is $145.43. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.16 and a current ratio of 1.25. The stock has a market capitalization of $79.16 billion, a PE ratio of 7.33, a price-to-earnings-growth ratio of 2.95 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, June 12th. The semiconductor manufacturer reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. Broadcom had a net margin of 24.10% and a return on equity of 35.82%. The firm had revenue of $12.49 billion for the quarter, compared to analyst estimates of $12.06 billion. During the same period last year, the firm posted $0.95 EPS. Broadcom’s quarterly revenue was up 43.0% on a year-over-year basis. As a group, equities research analysts anticipate that Broadcom Inc. will post 37.19 earnings per share for the current year.

Broadcom Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 24th were given a dividend of $0.525 per share. The ex-dividend date was Monday, June 24th. This represents a $2.10 annualized dividend and a dividend yield of 1.23%. Broadcom’s payout ratio is currently 90.32%.

Insiders Place Their Bets

In related news, Director Justine Page sold 2,540 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $175.03, for a total value of $444,566.04. Following the sale, the director now directly owns 27,480 shares in the company, valued at approximately $4,809,714.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AVGO. Stuart Chaussee & Associates Inc. acquired a new position in Broadcom in the 4th quarter valued at about $25,000. Legend Financial Advisors Inc. raised its stake in Broadcom by 72.7% in the 1st 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 during the last quarter. PSI Advisors LLC increased its stake in shares of Broadcom by 66.7% during the 4th 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 acquired a new position in shares of Broadcom during the 4th quarter valued at about $29,000. Finally, Richardson Capital Management LLC acquired a new position in shares of Broadcom during the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Company Profile

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.