Broadcom (NASDAQ:AVGO) Trading 1.8% Higher

Broadcom Inc. (NASDAQ:AVGO) shares traded up 1.8% during trading on Tuesday . The stock traded as high as $1,257.53 and last traded at $1,246.69. 468,758 shares were traded during mid-day trading, a decline of 84% from the average session volume of 2,929,223 shares. The stock had previously closed at $1,224.46.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Cantor Fitzgerald raised their target price on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. The Goldman Sachs Group reiterated a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a research report on Friday, January 19th. Oppenheimer reiterated an “outperform” rating and set a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Finally, Benchmark reiterated a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Trading Up 0.6 %

The firm has a market capitalization of $582.44 billion, a P/E ratio of 46.58, a price-to-earnings-growth ratio of 2.55 and a beta of 1.25. The firm has a 50 day moving average price of $1,304.15 and a two-hundred day moving average price of $1,129.53. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

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

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date 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 currently 77.84%.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the transaction, the director now owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 over the last quarter. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Broadcom

Several large investors have recently made changes to their positions in AVGO. Private Trust Co. NA raised its holdings in Broadcom by 0.3% in the 1st quarter. Private Trust Co. NA now owns 4,329 shares of the semiconductor manufacturer’s stock valued at $5,738,000 after acquiring an additional 12 shares in the last quarter. Leavell Investment Management Inc. raised its holdings in Broadcom by 18.1% in the 1st quarter. Leavell Investment Management Inc. now owns 1,378 shares of the semiconductor manufacturer’s stock valued at $1,826,000 after acquiring an additional 211 shares in the last quarter. PSI Advisors LLC raised its holdings in Broadcom by 36.0% in the 1st quarter. PSI Advisors LLC now owns 34 shares of the semiconductor manufacturer’s stock valued at $45,000 after acquiring an additional 9 shares in the last quarter. Patton Albertson Miller Group LLC raised its holdings in Broadcom by 114.3% in the 1st quarter. Patton Albertson Miller Group LLC now owns 3,725 shares of the semiconductor manufacturer’s stock valued at $4,937,000 after acquiring an additional 1,987 shares in the last quarter. Finally, Zhang Financial LLC raised its holdings in Broadcom by 8.2% in the 1st quarter. Zhang Financial LLC now owns 2,207 shares of the semiconductor manufacturer’s stock valued at $2,926,000 after acquiring an additional 168 shares in the last quarter. Institutional investors and hedge funds 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.