Broadcom (NASDAQ:AVGO) Stock Price Up 0.3%

Broadcom Inc. (NASDAQ:AVGO)’s share price traded up 0.3% during trading on Monday . The company traded as high as $1,225.99 and last traded at $1,208.22. 651,089 shares traded hands during trading, a decline of 78% from the average session volume of 2,937,572 shares. The stock had previously closed at $1,204.71.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AVGO shares. Mizuho upped their target price on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Monday, April 8th. Evercore ISI initiated coverage on shares of Broadcom in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 target price for the company. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Stock Up 2.0 %

The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The stock’s 50-day moving average price is $1,304.25 and its 200-day moving average price is $1,128.64. The company has a market cap of $578.90 billion, a P/E ratio of 46.30, a PEG ratio of 2.46 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter last year, the firm posted $9.83 earnings per share. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. As a group, research analysts forecast that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the transaction, the insider now owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the transaction, the insider now directly owns 41,974 shares in the company, valued at $55,257,092.04. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 over the last three months. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Impact Partnership Wealth LLC grew its stake in Broadcom by 151.8% in the 3rd quarter. Impact Partnership Wealth LLC now owns 141 shares of the semiconductor manufacturer’s stock valued at $117,000 after purchasing an additional 85 shares during the period. Avior Wealth Management LLC grew its position in Broadcom by 1.0% during the third quarter. Avior Wealth Management LLC now owns 2,426 shares of the semiconductor manufacturer’s stock valued at $2,015,000 after buying an additional 23 shares during the period. Mach 1 Financial Group LLC increased its holdings in Broadcom by 69.3% during the third quarter. Mach 1 Financial Group LLC now owns 413 shares of the semiconductor manufacturer’s stock worth $343,000 after buying an additional 169 shares during the last quarter. New Hampshire Trust raised its position in Broadcom by 4.5% in the third quarter. New Hampshire Trust now owns 4,103 shares of the semiconductor manufacturer’s stock worth $3,408,000 after acquiring an additional 176 shares during the period. Finally, B.O.S.S. Retirement Advisors LLC raised its position in Broadcom by 7.0% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 4,299 shares of the semiconductor manufacturer’s stock worth $3,571,000 after acquiring an additional 281 shares during the period. Hedge funds and other 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.