Broadcom (NASDAQ:AVGO) Trading Up 0.2%

Broadcom Inc. (NASDAQ:AVGO) traded up 0.2% during mid-day trading on Tuesday . The stock traded as high as $1,348.35 and last traded at $1,341.35. 236,368 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 2,883,547 shares. The stock had previously closed at $1,338.62.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and upped their target price for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Mizuho increased their target price on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Barclays raised their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a report on Monday, April 8th. Finally, Evercore ISI started coverage on shares of Broadcom in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 target price on the stock. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Trading Down 2.1 %

The company has a 50 day simple moving average of $1,308.57 and a 200 day simple moving average of $1,140.88. The stock has a market capitalization of $607.59 billion, a PE ratio of 48.86, a P/E/G ratio of 2.74 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 issued 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 net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same period in the previous year, the business posted $9.83 earnings per share. The business’s revenue was up 34.2% compared to the same quarter last year. Analysts predict that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 2,500 shares of the business’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 sale, the insider now owns 41,974 shares of the company’s stock, valued at $55,257,092.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the sale, the insider now owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is owned by company insiders.

Institutional Trading of Broadcom

A number of institutional investors have recently added to or reduced their stakes in AVGO. Commonwealth Equity Services LLC grew its holdings in Broadcom by 9.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 99,621 shares of the semiconductor manufacturer’s stock worth $82,743,000 after acquiring an additional 8,644 shares in the last quarter. YHB Investment Advisors Inc. increased its holdings in Broadcom by 8.3% in the third quarter. YHB Investment Advisors Inc. now owns 819 shares of the semiconductor manufacturer’s stock valued at $680,000 after buying an additional 63 shares during the last quarter. RMR Wealth Builders raised its stake in Broadcom by 6.5% during the third quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock valued at $5,284,000 after buying an additional 388 shares in the last quarter. Deltec Asset Management LLC grew its position in shares of Broadcom by 5.6% in the 3rd quarter. Deltec Asset Management LLC now owns 9,412 shares of the semiconductor manufacturer’s stock worth $7,817,000 after acquiring an additional 500 shares in the last quarter. Finally, Accurate Wealth Management LLC raised its holdings in shares of Broadcom by 13.3% during the third quarter. Accurate Wealth Management LLC now owns 1,769 shares of the semiconductor manufacturer’s stock worth $1,565,000 after purchasing an additional 207 shares during the period. 76.43% of the stock is owned by hedge funds and other 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.