Broadcom (NASDAQ:AVGO) Shares Down 6.7% – Time to Sell?

Broadcom Inc. (NASDAQ:AVGO)’s share price traded down 6.7% during trading on Friday . The stock traded as low as $139.17 and last traded at $143.68. 18,442,794 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 30,412,429 shares. The stock had previously closed at $154.01.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Bank of America raised their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of Broadcom in a report on Friday, March 7th. TD Cowen upped their price target on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Mizuho reduced their price objective on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Finally, Truist Financial boosted their target price on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Trading Down 5.0 %

The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company’s 50 day moving average price is $201.57 and its 200 day moving average price is $196.19. The company has a market cap of $687.85 billion, a price-to-earnings ratio of 119.32, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a $0.59 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.61%. Broadcom’s dividend payout ratio is currently 113.46%.

Insider Activity

In other news, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction dated 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 represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 745,976 shares of company stock valued at $138,632,902. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Canton Hathaway LLC acquired a new position in Broadcom during the 4th quarter valued at $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom during the fourth quarter valued at about $26,000. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom in the fourth quarter valued at about $28,000. Vermillion Wealth Management Inc. acquired a new stake in Broadcom during the fourth quarter worth about $30,000. Finally, JDM Financial Group LLC increased its stake in Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

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.