Broadcom (NASDAQ:AVGO) Stock Price Up 1.8%

Broadcom Inc. (NASDAQ:AVGO) traded up 1.8% during trading on Tuesday . The company traded as high as $1,257.53 and last traded at $1,246.69. 468,758 shares traded hands during trading, a decline of 84% from the average session volume of 2,929,223 shares. The stock had previously closed at $1,224.46.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Evercore ISI assumed coverage on shares of Broadcom in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 target price on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,325.00 price objective on shares of Broadcom in a report on Friday, January 19th. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Oppenheimer reaffirmed an “outperform” rating and set a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Finally, UBS Group increased their price objective on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Stock Performance

The firm has a market capitalization of $582.03 billion, a P/E ratio of 46.21, a P/E/G ratio of 2.46 and a beta of 1.25. The firm has a 50-day moving average price of $1,304.30 and a two-hundred day moving average price of $1,125.79. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same quarter in the previous year, the firm earned $9.83 earnings per share. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. On average, analysts forecast that Broadcom Inc. will post 35.88 EPS 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 paid 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 1.67%. Broadcom’s payout ratio is 77.84%.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the sale, the insider now owns 16,575 shares in the company, valued at $22,276,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Kenneth Hao sold 9,160 shares of the company’s 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 completion of the transaction, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The disclosure for this sale can be found here. Over 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

Several large investors have recently made changes to their positions in the business. Pathway Financial Advisors LLC raised its stake in Broadcom by 11.1% in the 4th quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock valued at $1,041,000 after purchasing an additional 93 shares during the last quarter. RMR Wealth Builders grew its holdings in Broadcom by 6.5% in the 3rd quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock valued at $5,284,000 after buying an additional 388 shares in the last quarter. Czech National Bank grew its holdings in Broadcom by 46.1% in the 3rd quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock valued at $59,909,000 after buying an additional 22,774 shares in the last quarter. Alpha Omega Wealth Management LLC grew its holdings in Broadcom by 66.6% in the 4th quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock valued at $4,756,000 after buying an additional 1,704 shares in the last quarter. Finally, CI Investments Inc. grew its holdings in Broadcom by 89.4% in the 3rd quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock valued at $114,221,000 after buying an additional 64,912 shares in the last quarter. 76.43% of the stock is 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.