Broadcom (NASDAQ:AVGO) Stock Price Up 0.4%

Broadcom Inc. (NASDAQ:AVGO) shares shot up 0.4% during trading on Tuesday . The stock traded as high as $1,320.33 and last traded at $1,315.42. 346,742 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 2,939,309 shares. The stock had previously closed at $1,310.69.

Analysts Set New Price Targets

Several research firms recently commented on AVGO. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research report on Monday, April 8th. Barclays boosted their price objective on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research report on Wednesday. Benchmark reaffirmed a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Oppenheimer reissued an “outperform” rating and set a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Finally, StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Stock Performance

The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The stock’s fifty day moving average price is $1,307.00 and its 200-day moving average price is $1,115.19. The company has a market capitalization of $594.40 billion, a P/E ratio of 47.54, a PEG ratio of 2.67 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating 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 quarter in the prior year, the business earned $9.83 EPS. Broadcom’s quarterly revenue was up 34.2% on a year-over-year basis. As a group, research analysts anticipate that Broadcom Inc. will post 35.95 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors 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 1.64%. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

Insider Activity at Broadcom

In related 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 transaction, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the transaction, the director now owns 45 shares in the company, valued at approximately $62,465.85. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was 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 in the company, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,920 shares of company stock worth $40,306,667. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Stuart Chaussee & Associates Inc. acquired a new position in shares of Broadcom during the 4th quarter worth approximately $25,000. Legend Financial Advisors Inc. boosted its position in shares of Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 8 shares in the last quarter. PSI Advisors LLC boosted its position in shares of Broadcom by 66.7% during the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after acquiring an additional 10 shares in the last quarter. Macroview Investment Management LLC acquired a new stake in shares of Broadcom during the 3rd quarter worth approximately $29,000. Finally, BKM Wealth Management LLC acquired a new stake in shares of Broadcom during the 4th 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.