Broadcom (NASDAQ:AVGO) Stock Price Down 0%

Broadcom Inc. (NASDAQ:AVGOGet Free Report) shares dropped 0% during trading on Wednesday . The company traded as low as $1,389.75 and last traded at $1,398.79. Approximately 357,754 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 2,759,947 shares. The stock had previously closed at $1,399.20.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Barclays upped their price target on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. UBS Group boosted their price target on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Susquehanna raised their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Cantor Fitzgerald lifted their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Finally, Jefferies Financial Group began coverage on shares of Broadcom in a research report on Monday, May 13th. They issued a “buy” rating and a $1,550.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,296.91.

Read Our Latest Stock Report on AVGO

Broadcom Stock Performance

The company has a fifty day moving average price of $1,315.89 and a two-hundred day moving average price of $1,194.30. The firm has a market cap of $642.64 billion, a price-to-earnings ratio of 51.57, a price-to-earnings-growth ratio of 2.87 and a beta of 1.25. 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:AVGOGet Free Report) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same quarter last year, the firm posted $9.83 EPS. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. As a group, equities research analysts expect that Broadcom Inc. will post 36.06 EPS for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.51%. Broadcom’s payout ratio is currently 77.84%.

Insider Buying and Selling at Broadcom

In other news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the sale, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the transaction, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the 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 in the company, valued at $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 over the last 90 days. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Stuart Chaussee & Associates Inc. acquired a new position in Broadcom during the fourth quarter valued at approximately $25,000. Legend Financial Advisors Inc. increased 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 worth $25,000 after acquiring an additional 8 shares during the period. PSI Advisors LLC raised its holdings in shares of Broadcom by 66.7% during the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 10 shares in the last quarter. BKM Wealth Management LLC bought a new stake in shares of Broadcom during the 4th quarter worth $29,000. Finally, Richardson Capital Management LLC acquired a new stake in Broadcom in the first quarter valued at about $29,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

About Broadcom

(Get Free Report)

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.

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