Broadcom (NASDAQ:AVGO) Trading Up 0.8%

Broadcom Inc. (NASDAQ:AVGO)’s share price traded up 0.8% on Wednesday . The company traded as high as $154.54 and last traded at $154.00. 5,749,410 shares were traded during trading, a decline of 81% from the average session volume of 31,004,484 shares. The stock had previously closed at $152.79.

Analyst Ratings Changes

Several research firms have recently weighed in on AVGO. Citigroup reissued a “buy” rating and set a $156.00 price target on shares of Broadcom in a report on Tuesday, June 11th. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. TD Cowen lifted their price target on shares of Broadcom from $175.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Benchmark reiterated a “buy” rating and set a $210.00 target price on shares of Broadcom in a research report on Friday. Finally, Sanford C. Bernstein upped their price target on Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Two analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $188.37.

Broadcom Trading Down 0.8 %

The stock has a 50 day simple moving average of $189.95 and a 200-day simple moving average of $155.57. The company has a current ratio of 1.25, a quick ratio of 1.16 and a debt-to-equity ratio of 1.02. The firm has a market cap of $711.36 billion, a P/E ratio of 6.57, a P/E/G ratio of 2.87 and a beta of 1.16.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 24.10% and a return on equity of 35.82%. The business’s revenue was up 47.3% on a year-over-year basis. During the same period last year, the company posted $0.95 EPS. On average, equities research analysts expect that Broadcom Inc. will post 3.74 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be issued a $0.53 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.39%. Broadcom’s payout ratio is 9.03%.

Insider Activity

In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the completion of the transaction, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the transaction, the chief executive officer now owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Justine Page sold 2,540 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was 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 of the company’s stock, valued at $4,809,714.48. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

Several large investors have recently added to or reduced their stakes in AVGO. Barry Investment Advisors LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $228,000. Vise Technologies Inc. lifted its holdings in shares of Broadcom by 49.9% in the 4th quarter. Vise Technologies Inc. now owns 2,901 shares of the semiconductor manufacturer’s stock worth $3,238,000 after buying an additional 966 shares during the period. International Assets Investment Management LLC grew its position in shares of Broadcom by 1.8% during the 4th quarter. International Assets Investment Management LLC now owns 2,981 shares of the semiconductor manufacturer’s stock worth $3,327,000 after buying an additional 52 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Broadcom during the fourth quarter valued at $2,690,000. Finally, Barings LLC raised its holdings in shares of Broadcom by 36.1% in the fourth quarter. Barings LLC now owns 494 shares of the semiconductor manufacturer’s stock valued at $551,000 after acquiring an additional 131 shares in the last quarter. 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.