Broadcom (NASDAQ:AVGO) Stock Price Down 1.1%

Broadcom Inc. (NASDAQ:AVGO) dropped 1.1% during mid-day trading on Thursday . The company traded as low as $1,302.00 and last traded at $1,310.72. Approximately 217,237 shares changed hands during trading, a decline of 92% from the average daily volume of 2,825,847 shares. The stock had previously closed at $1,325.37.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent research reports. UBS Group increased their target price on Broadcom to $1,480.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Mizuho raised their target price on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Benchmark reiterated a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Susquehanna lifted their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 target price on shares of Broadcom in a report on Friday, January 19th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Stock Down 1.5 %

The stock has a 50-day moving average price of $1,309.54 and a 200-day moving average price of $1,158.92. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The company has a market capitalization of $605.07 billion, a P/E ratio of 48.39, a P/E/G ratio of 2.60 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $11.79 billion. During the same period in the prior year, the business earned $9.83 EPS. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. On average, research analysts predict that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.61%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Buying and Selling

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’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 transaction, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the sale, the insider now directly owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AVGO. Chicago Partners Investment Group LLC raised its position in shares of Broadcom by 18.8% in the third quarter. Chicago Partners Investment Group LLC now owns 1,288 shares of the semiconductor manufacturer’s stock valued at $1,111,000 after purchasing an additional 204 shares during the period. Inspire Advisors LLC boosted its holdings in shares of Broadcom by 7.3% in the third quarter. Inspire Advisors LLC now owns 309 shares of the semiconductor manufacturer’s stock worth $257,000 after acquiring an additional 21 shares during the period. Simmons Bank grew its position in shares of Broadcom by 7.1% in the third quarter. Simmons Bank now owns 1,689 shares of the semiconductor manufacturer’s stock valued at $1,403,000 after purchasing an additional 112 shares in the last quarter. AustralianSuper Pty Ltd raised its stake in shares of Broadcom by 57.7% during the 3rd quarter. AustralianSuper Pty Ltd now owns 11,504 shares of the semiconductor manufacturer’s stock valued at $9,555,000 after purchasing an additional 4,208 shares during the period. Finally, Gradient Investments LLC lifted its holdings in Broadcom by 6.0% during the 3rd quarter. Gradient Investments LLC now owns 14,926 shares of the semiconductor manufacturer’s stock worth $12,397,000 after purchasing an additional 847 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

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.