Traders bought shares of Broadcom Inc (NASDAQ:AVGO) on weakness during trading hours on Thursday. $373.47 million flowed into the stock on the tick-up and $291.54 million flowed out of the stock on the tick-down, for a money net flow of $81.93 million into the stock. Of all companies tracked, Broadcom had the 22nd highest net in-flow for the day. Broadcom traded down ($4.80) for the day and closed at $227.24
A number of research firms have recently issued reports on AVGO. BidaskClub cut Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research raised Broadcom from a “sell” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $260.00 price objective on shares of Broadcom in a research report on Wednesday, November 28th. B. Riley raised Broadcom from a “neutral” rating to a “buy” rating and raised their price objective for the company from $250.00 to $300.00 in a research report on Monday. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $230.00 price objective on shares of Broadcom in a research report on Friday, September 7th. Nine research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $286.16.
The company has a market capitalization of $95.94 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 1.00 and a beta of 1.03. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.98 and a quick ratio of 3.42.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Wednesday, December 19th will be paid a dividend of $2.65 per share. This represents a $10.60 dividend on an annualized basis and a dividend yield of 4.66%. This is a positive change from Broadcom’s previous quarterly dividend of $1.75. Broadcom’s dividend payout ratio (DPR) is 48.95%.
In other Broadcom news, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $238.62, for a total transaction of $4,772,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kirsten M. Spears sold 1,194 shares of the firm’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $246.52, for a total value of $294,344.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,194 shares of company stock worth $14,266,145. Corporate insiders own 3.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Massey Quick Simon & CO. LLC bought a new position in Broadcom during the 2nd quarter worth $104,000. Zions Bancorporation bought a new position in Broadcom during the 2nd quarter worth $109,000. MUFG Americas Holdings Corp bought a new position in Broadcom during the 2nd quarter worth $109,000. First Personal Financial Services bought a new position in Broadcom during the 2nd quarter worth $126,000. Finally, Avestar Capital LLC bought a new position in Broadcom during the 2nd quarter worth $126,000. Hedge funds and other institutional investors own 85.22% of the company’s stock.
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Broadcom Company Profile (NASDAQ:AVGO)
Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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