Broadcom (NASDAQ:AVGO) Trading Up 0.4%

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AVGO shares. Rosenblatt Securities reissued a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a report on Thursday, March 21st. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Barclays started coverage on shares of Broadcom in a research note on Wednesday, March 20th. They set an “overweight” rating and a $1,405.00 price target for the company. Susquehanna increased their target price on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a research note on Friday, January 19th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,281.09.

Broadcom Trading Up 1.0 %

The firm has a market cap of $613.70 billion, a price-to-earnings ratio of 48.76, a PEG ratio of 2.74 and a beta of 1.25. The business has a fifty day moving average of $1,304.36 and a two-hundred day moving average of $1,110.50. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter last year, the business posted $9.83 earnings per share. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. As a group, equities analysts expect that Broadcom Inc. will post 35.95 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.59%. Broadcom’s dividend payout ratio is presently 77.84%.

Insider Buying and Selling

In other news, CEO Hock E. Tan sold 2,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 168,096 shares in the company, valued at $220,583,976. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 2,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 168,096 shares in the company, valued at $220,583,976. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock worth $40,306,667 in the last ninety days. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AVGO. KRS Capital Management LLC raised its stake in Broadcom by 3.2% during the first quarter. KRS Capital Management LLC now owns 1,501 shares of the semiconductor manufacturer’s stock worth $1,990,000 after acquiring an additional 46 shares during the period. Astoria Portfolio Advisors LLC. lifted its holdings in Broadcom by 2.3% in the first quarter. Astoria Portfolio Advisors LLC. now owns 628 shares of the semiconductor manufacturer’s stock worth $823,000 after purchasing an additional 14 shares during the period. New England Research & Management Inc. bought a new position in shares of Broadcom in the first quarter valued at approximately $1,539,000. Kathmere Capital Management LLC increased its stake in shares of Broadcom by 23.8% during the first quarter. Kathmere Capital Management LLC now owns 604 shares of the semiconductor manufacturer’s stock valued at $801,000 after acquiring an additional 116 shares during the period. Finally, Firethorn Wealth Partners LLC raised its holdings in Broadcom by 9.0% during the first quarter. Firethorn Wealth Partners LLC now owns 243 shares of the semiconductor manufacturer’s stock worth $322,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds 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.