Broadcom (NASDAQ:AVGO) Trading Up 0.7%

Shares of Broadcom Inc. (NASDAQ:AVGO) were up 0.7% during trading on Monday . The company traded as high as $1,370.00 and last traded at $1,352.83. Approximately 358,492 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 2,947,098 shares. The stock had previously closed at $1,344.07.

Analyst Ratings Changes

A number of equities analysts have commented on AVGO shares. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. The Goldman Sachs Group reiterated a “buy” rating and set a $1,325.00 price objective on shares of Broadcom in a research note on Friday, January 19th. Evercore ISI assumed coverage on shares of Broadcom in a research note on Tuesday. They set an “outperform” rating and a $1,620.00 price objective on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Finally, Barclays assumed coverage on shares of Broadcom in a research note on Wednesday, March 20th. They set an “overweight” rating and a $1,405.00 price objective on the stock. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,281.09.

Broadcom Stock Performance

The stock’s fifty day simple moving average is $1,306.49 and its 200 day simple moving average is $1,114.01. 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 cap of $615.91 billion, a price-to-earnings ratio of 49.26, a P/E/G ratio of 2.67 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 for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter in the prior year, the company posted $9.83 EPS. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. As a group, analysts anticipate that Broadcom Inc. will post 35.95 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.58%. Broadcom’s payout ratio is currently 77.84%.

Insider Buying and Selling

In related 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 completion of the transaction, the insider now owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Broadcom 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 sale, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kenneth Hao sold 9,160 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the sale, the director now owns 45 shares in the company, valued at $62,465.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,920 shares of company stock valued at $40,306,667. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Trifecta Capital Advisors LLC raised its holdings in shares of Broadcom by 15.9% in the 1st quarter. Trifecta Capital Advisors LLC now owns 3,134 shares of the semiconductor manufacturer’s stock valued at $4,154,000 after purchasing an additional 431 shares in the last quarter. Hodges Capital Management Inc. raised its stake in Broadcom by 27.1% during the 1st quarter. Hodges Capital Management Inc. now owns 516 shares of the semiconductor manufacturer’s stock worth $684,000 after acquiring an additional 110 shares in the last quarter. Occidental Asset Management LLC raised its stake in Broadcom by 32.2% during the 1st quarter. Occidental Asset Management LLC now owns 263 shares of the semiconductor manufacturer’s stock worth $349,000 after acquiring an additional 64 shares in the last quarter. Avity Investment Management Inc. acquired a new stake in Broadcom during the 1st quarter worth $304,000. Finally, Independence Bank of Kentucky raised its stake in Broadcom by 26.9% during the 1st quarter. Independence Bank of Kentucky now owns 1,268 shares of the semiconductor manufacturer’s stock worth $1,681,000 after acquiring an additional 269 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

About Broadcom

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.