Broadcom (NASDAQ:AVGO) Trading Down 0.4%

Broadcom Inc. (NASDAQ:AVGO)’s stock price was down 0.4% during trading on Tuesday . The stock traded as low as $1,345.39 and last traded at $1,345.90. Approximately 564,107 shares changed 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.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Rosenblatt Securities restated a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research note on Thursday, March 21st. UBS Group increased their price target on Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Summit Insights upgraded Broadcom from a “hold” rating to a “buy” rating in a research note on Friday, December 8th. Finally, Mizuho lifted 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 note on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,230.18.

Broadcom Trading Down 1.0 %

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 $611.13 billion, a price-to-earnings ratio of 48.88, a PEG ratio of 2.85 and a beta of 1.26. The firm has a 50-day moving average price of $1,267.55 and a 200-day moving average price of $1,061.46.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (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 analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.83 earnings per share. As a group, sell-side analysts predict that Broadcom Inc. will post 36.8 EPS for the current year.

Broadcom Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 1.59%. Broadcom’s payout ratio is presently 77.84%.

Insider Activity

In other news, CFO Kirsten M. Spears sold 2,500 shares of the company’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the transaction, the chief financial officer now owns 26,880 shares in the company, valued at approximately $28,039,603.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of Broadcom stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the transaction, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. Insiders have sold 19,810 shares of company stock worth $26,107,692 over the last 90 days. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Broadcom

A number of institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Broadcom during the fourth quarter worth $6,225,987,000. Moneta Group Investment Advisors LLC raised its holdings in Broadcom by 122,794.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,667,161 shares of the semiconductor manufacturer’s stock worth $2,050,420,000 after purchasing an additional 3,664,177 shares during the last quarter. International Assets Investment Management LLC lifted its position in Broadcom by 113,495.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock valued at $37,140,060,000 after purchasing an additional 3,324,288 shares during the period. Vanguard Group Inc. boosted its stake in shares of Broadcom by 7.7% in the 4th quarter. Vanguard Group Inc. now owns 43,347,811 shares of the semiconductor manufacturer’s stock valued at $48,386,994,000 after purchasing an additional 3,089,798 shares during the last quarter. Finally, Providence Capital Advisors LLC grew its position in shares of Broadcom by 49,919.1% during the 1st quarter. Providence Capital Advisors LLC now owns 2,437,432 shares of the semiconductor manufacturer’s stock worth $3,799,000 after buying an additional 2,432,559 shares during the period. 76.43% of the stock is owned by institutional investors.

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.