Broadcom (NASDAQ:AVGO) Trading 1.2% Higher

Broadcom Inc. (NASDAQ:AVGOGet Free Report)’s share price traded up 1.2% on Monday . The stock traded as high as $1,362.98 and last traded at $1,341.55. 568,391 shares were traded during mid-day trading, a decline of 81% from the average session volume of 3,055,642 shares. The stock had previously closed at $1,325.41.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a report on Thursday, March 21st. Barclays assumed coverage on shares of Broadcom in a report on Wednesday, March 20th. They issued an “overweight” rating and a $1,405.00 target price for the company. Cantor Fitzgerald upped their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Citigroup reaffirmed a “buy” rating and issued a $1,100.00 target price on shares of Broadcom in a report on Monday, December 11th. Finally, Summit Insights upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Friday, December 8th. Three research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,230.18.

Read Our Latest Research Report on Broadcom

Broadcom Price 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 company has a market capitalization of $615.81 billion, a PE ratio of 49.62, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The stock’s 50-day moving average is $1,282.61 and its two-hundred day moving average is $1,078.22.

Broadcom (NASDAQ:AVGOGet Free Report) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.83 EPS. On average, equities analysts predict that Broadcom Inc. will post 36.8 EPS for the current year.

Broadcom Dividend Announcement

The business also recently announced 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 1.58%. Broadcom’s dividend payout ratio is currently 77.84%.

Insider Activity

In other news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 transaction of $3,297,425.00. Following the transaction, the insider now owns 46,974 shares in the company, valued at $61,957,296.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,310 shares of company stock worth $29,405,117. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

Several institutional investors have recently bought and sold shares of AVGO. Cantor Fitzgerald Investment Advisor L.P boosted its stake in Broadcom by 94.4% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock valued at $47,283,000 after acquiring an additional 36,458 shares in the last quarter. Fairfield Bush & CO. raised its holdings in shares of Broadcom by 2.6% in the first quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock worth $3,114,000 after buying an additional 123 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Broadcom by 20.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock worth $320,887,000 after buying an additional 87,945 shares during the last quarter. Loomis Sayles & Co. L P raised its holdings in shares of Broadcom by 1.1% in the first quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock worth $25,412,000 after buying an additional 420 shares during the last quarter. Finally, Ergoteles LLC purchased a new position in shares of Broadcom in the first quarter worth $1,095,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.