Broadcom (NASDAQ:AVGO) Trading Down 0.6%

Broadcom Inc. (NASDAQ:AVGO) was down 0.6% during trading on Wednesday . The company traded as low as $1,320.33 and last traded at $1,321.75. Approximately 348,122 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 2,924,848 shares. The stock had previously closed at $1,329.06.

Analyst Ratings Changes

A number of analysts recently commented on AVGO shares. UBS Group boosted their target price on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Evercore ISI initiated coverage on shares of Broadcom in a research note on Tuesday. They issued an “outperform” rating and a $1,620.00 price objective for the company. Susquehanna boosted their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. Barclays boosted their price objective on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Benchmark restated a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Trading Down 1.8 %

The company has a market cap of $583.44 billion, a price-to-earnings ratio of 46.66, a PEG ratio of 2.62 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The business’s 50 day moving average price is $1,306.69 and its 200-day moving average price is $1,116.18.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping 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 business had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same quarter in the prior year, the firm earned $9.83 EPS. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. On average, research analysts forecast that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.67%. Broadcom’s dividend payout ratio is 77.84%.

Insiders Place Their Bets

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s 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 approximately $5,991,048.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction 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 approximately $220,583,976. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the sale, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,920 shares of company stock worth $40,306,667. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Broadcom

Institutional investors have recently made changes to their positions in the business. Legend Financial Advisors Inc. lifted its position in shares of Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 8 shares in the last quarter. Stuart Chaussee & Associates Inc. bought a new stake in Broadcom during the fourth quarter worth about $25,000. Richardson Capital Management LLC bought a new stake in Broadcom during the first quarter worth about $29,000. PSI Advisors LLC lifted its position in Broadcom by 66.7% during the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 10 shares during the period. Finally, BKM Wealth Management LLC bought a new stake in Broadcom during the fourth quarter worth about $29,000. Institutional investors own 76.43% of the company’s stock.

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.