Broadcom (NASDAQ:AVGO) Trading Up 1.2%

Broadcom Inc. (NASDAQ:AVGO)’s share price was up 1.2% on Monday . The company traded as high as $1,305.61 and last traded at $1,294.03. Approximately 374,558 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 2,876,052 shares. The stock had previously closed at $1,278.11.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AVGO shares. Cantor Fitzgerald raised their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Susquehanna raised their price target on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. Mizuho raised their price target on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. UBS Group raised their price target on Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Finally, Barclays raised their price target on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Stock Performance

The firm has a market capitalization of $607.22 billion, a P/E ratio of 47.96, a price-to-earnings-growth ratio of 2.60 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. The company has a 50-day moving average of $1,308.66 and a 200-day moving average of $1,151.47.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. Broadcom’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period last year, the company earned $9.83 EPS. On average, equities analysts anticipate 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. Stockholders of record on Thursday, March 21st were given a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Activity

In other news, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the transaction, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the transaction, the insider now directly owns 46,974 shares of the company’s stock, valued at approximately $61,957,296.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the transaction, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 in the last ninety days. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Broadcom

Several institutional investors have recently made changes to their positions in AVGO. Legend Financial Advisors Inc. raised its position in shares of Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 8 shares in the last quarter. Stuart Chaussee & Associates Inc. bought a new stake in shares of Broadcom in the fourth quarter worth about $25,000. Richardson Capital Management LLC bought a new stake in shares of Broadcom in the first quarter worth about $29,000. PSI Advisors LLC lifted its holdings in Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 10 shares during the period. Finally, BKM Wealth Management LLC purchased a new stake in Broadcom in the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

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.