Broadcom (NASDAQ:AVGO) Trading Up 1.2%

Shares of Broadcom Inc. (NASDAQ:AVGO) rose 1.2% during trading on Wednesday . The company traded as high as $1,285.62 and last traded at $1,264.22. Approximately 608,230 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 2,922,384 shares. The stock had previously closed at $1,249.19.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research analyst reports. Susquehanna boosted their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $1,700.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Barclays upped their target price on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. UBS Group lifted their price target on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Finally, Cantor Fitzgerald upped their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Price Performance

The stock has a fifty day simple moving average of $1,304.25 and a 200-day simple moving average of $1,128.64. The company has a market capitalization of $582.44 billion, a PE ratio of 46.86, a P/E/G ratio of 2.50 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (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 the consensus estimate of $11.79 billion. During the same period in the prior year, the company posted $9.83 earnings per share. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. Equities analysts anticipate that Broadcom Inc. will post 35.88 earnings per share for the current year.

Broadcom Announces Dividend

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

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the sale, the chief executive officer now owns 168,096 shares in the company, valued at $220,583,976. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 168,096 shares in the company, valued at $220,583,976. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the sale, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pathway Financial Advisors LLC raised its position in shares of Broadcom by 11.1% during the 4th quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock worth $1,041,000 after purchasing an additional 93 shares during the last quarter. RMR Wealth Builders increased its holdings in shares of Broadcom by 6.5% during the 3rd quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock worth $5,284,000 after buying an additional 388 shares during the last quarter. Czech National Bank raised its position in shares of Broadcom by 46.1% in the 3rd quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock worth $59,909,000 after buying an additional 22,774 shares during the period. Alpha Omega Wealth Management LLC boosted its holdings in Broadcom by 66.6% in the fourth quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock valued at $4,756,000 after acquiring an additional 1,704 shares during the last quarter. Finally, CI Investments Inc. increased its stake in Broadcom by 89.4% during the third quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock worth $114,221,000 after acquiring an additional 64,912 shares during the last quarter. 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.