Broadcom (NASDAQ:AVGO) Stock Price Up 2.4% – Should You Buy?

Shares of Broadcom Inc. (NASDAQ:AVGO) traded up 2.4% on Friday . The company traded as high as $197.50 and last traded at $196.04. 6,687,381 shares were traded during trading, a decline of 77% from the average session volume of 29,345,129 shares. The stock had previously closed at $191.36.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Benchmark reiterated a “buy” rating and issued a $255.00 price target on shares of Broadcom in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Susquehanna increased their price target on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Finally, KeyCorp increased their price target on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Trading Up 1.8 %

The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The business has a fifty day simple moving average of $218.86 and a 200 day simple moving average of $193.43. The company has a market cap of $916.37 billion, a price-to-earnings ratio of 158.95, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the company earned $0.98 earnings per share. Broadcom’s quarterly revenue was up 51.2% compared to the same quarter last year. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

Insider Buying and Selling at Broadcom

In other news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. The trade was a 17.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by company insiders.

Institutional Trading of Broadcom

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division increased its position in Broadcom by 21.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after purchasing an additional 3,707 shares in the last quarter. Wolff Financial Management LLC purchased a new stake in Broadcom during the 4th quarter worth about $244,000. Strait & Sound Wealth Management LLC increased its position in Broadcom by 829.8% during the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after purchasing an additional 7,095 shares in the last quarter. Motive Wealth Advisors increased its position in Broadcom by 1,076.5% during the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after purchasing an additional 4,209 shares in the last quarter. Finally, Tidal Investments LLC increased its position in Broadcom by 969.3% during the 3rd quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock worth $66,696,000 after purchasing an additional 350,485 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

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.