Broadcom (NASDAQ:AVGO) Shares Down 1.7%

Shares of Broadcom Inc. (NASDAQ:AVGO) traded down 1.7% during mid-day trading on Wednesday . The company traded as low as $1,296.02 and last traded at $1,308.87. 752,538 shares changed hands during trading, a decline of 76% from the average session volume of 3,084,271 shares. The stock had previously closed at $1,331.49.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Citigroup reissued a “buy” rating and set a $1,100.00 price target on shares of Broadcom in a research note on Monday, December 11th. Summit Insights upgraded Broadcom from a “hold” rating to a “buy” rating in a report on Friday, December 8th. Cantor Fitzgerald raised their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Mizuho lifted their price target on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Finally, StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Three analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,230.18.

Broadcom Stock Performance

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 $1,263.22 and its two-hundred day moving average price is $1,058.13. The firm has a market capitalization of $607.25 billion, a PE ratio of 48.51, a PEG ratio of 2.85 and a beta of 1.26.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period in the prior year, the firm posted $9.83 EPS. On average, equities analysts expect that Broadcom Inc. will post 36.8 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Thursday, March 21st will be issued a $5.25 dividend. The ex-dividend date is Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.60%. Broadcom’s dividend payout ratio is currently 77.84%.

Insider Activity at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s 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 transaction, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $4,064,571.00. Following the transaction, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kirsten M. Spears sold 2,500 shares of the stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the sale, the chief financial officer now owns 26,880 shares in the company, valued at approximately $28,039,603.20. The disclosure for this sale can be found here. In the last three months, insiders sold 14,810 shares of company stock worth $19,387,692. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

Several large investors have recently made changes to their positions in the company. Rise Advisors LLC increased its stake in shares of Broadcom by 76.5% during the third quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 13 shares during the period. Stuart Chaussee & Associates Inc. bought a new stake in Broadcom during the fourth quarter worth approximately $25,000. Bollard Group LLC bought a new stake in Broadcom during the second quarter worth approximately $26,000. PSI Advisors LLC boosted its holdings 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 buying an additional 10 shares in the last quarter. Finally, Macroview Investment Management LLC bought a new stake in Broadcom during the third quarter worth approximately $29,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

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.