Broadcom (NASDAQ:AVGO) Stock Price Up 1.2%

Shares of Broadcom Inc. (NASDAQ:AVGO) shot up 1.2% on Wednesday . The company traded as high as $1,285.62 and last traded at $1,264.22. 608,230 shares changed hands during trading, a decline of 79% from the average session volume of 2,922,384 shares. The stock had previously closed at $1,249.19.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AVGO. Mizuho upped their target price on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Cantor Fitzgerald upped their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. UBS Group upped their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Trading Up 3.0 %

The stock has a market cap of $599.86 billion, a PE ratio of 47.98, a price-to-earnings-growth ratio of 2.55 and a beta of 1.25. The stock has a 50-day moving average price of $1,304.73 and a two-hundred day moving average price of $1,130.68. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating 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 firm had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter last year, the firm earned $9.83 EPS. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. Sell-side analysts forecast that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Insider Activity at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the transaction, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the sale, the insider now owns 41,974 shares of the company’s stock, valued at $55,257,092.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom 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 sale, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,920 shares of company stock valued at $40,306,667. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Broadcom

Several institutional investors have recently bought and sold shares of AVGO. Stuart Chaussee & Associates Inc. purchased a new position in Broadcom during the fourth quarter valued at approximately $25,000. Legend Financial Advisors Inc. grew its holdings in shares of 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 buying an additional 8 shares during the last quarter. PSI Advisors LLC grew its holdings in shares of Broadcom by 66.7% during the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 10 shares during the last quarter. Macroview Investment Management LLC purchased a new stake in shares of Broadcom during the third quarter valued at $29,000. Finally, BKM Wealth Management LLC purchased a new stake in shares of Broadcom during the fourth quarter valued at $29,000. 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.