Broadcom (NASDAQ:AVGO) Trading 0.1% Higher – Time to Buy?

Shares of Broadcom Inc. (NASDAQ:AVGO) were up 0.1% during mid-day trading on Tuesday . The company traded as high as $237.46 and last traded at $235.77. Approximately 4,644,241 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 30,402,396 shares. The stock had previously closed at $235.58.

Wall Street Analyst Weigh In

AVGO has been the topic of several recent analyst reports. Citigroup lifted their target price on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Robert W. Baird lifted their price objective on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Jefferies Financial Group increased their target price on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Mizuho boosted their price target on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $221.88.

Broadcom Stock Performance

The firm’s 50-day simple moving average is $186.65 and its two-hundred day simple moving average is $171.85. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $1.09 trillion, a PE ratio of 202.61, a PEG ratio of 2.15 and a beta of 1.13.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the previous year, the firm earned $0.98 earnings per share. Broadcom’s quarterly revenue was up 51.2% on a year-over-year basis. On average, equities research analysts expect that Broadcom Inc. will post 3.79 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 1.01%. Broadcom’s payout ratio is presently 191.87%.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 20,000 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $172.32, for a total transaction of $3,446,400.00. Following the completion of the transaction, the chief executive officer now owns 1,151,910 shares of the company’s stock, valued at approximately $198,497,131.20. The trade was a 1.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the transaction, the insider now owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. The trade was a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 174,408 shares of company stock worth $36,858,628. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Broadcom

A number of hedge funds and other institutional investors have recently made changes to their positions in AVGO. AXA S.A. raised its stake in shares of Broadcom by 2.7% in the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock worth $467,334,000 after acquiring an additional 7,608 shares during the last quarter. Strait & Sound Wealth Management LLC raised its holdings in shares of Broadcom by 829.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock valued at $1,371,000 after purchasing an additional 7,095 shares during the last quarter. Catalyst Financial Partners LLC boosted its position in Broadcom by 943.3% during the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock valued at $3,473,000 after purchasing an additional 18,206 shares during the last quarter. Whittier Trust Co. raised its position in Broadcom by 947.2% during the third quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock worth $119,000,000 after acquiring an additional 623,983 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in Broadcom by 969.3% in the 3rd quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock valued at $66,696,000 after purchasing an additional 350,485 shares during the last quarter. 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.