Broadcom (NASDAQ:AVGO) Trading Down 0.6%

Shares of Broadcom Inc. (NASDAQ:AVGO) dropped 0.6% on Monday . The stock traded as low as $1,325.70 and last traded at $1,336.61. Approximately 396,015 shares changed hands during trading, a decline of 86% from the average daily volume of 2,903,808 shares. The stock had previously closed at $1,344.07.

Wall Street Analyst Weigh In

AVGO has been the subject of several recent research reports. Susquehanna lifted their price target on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Mizuho raised their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. UBS Group raised their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Finally, Benchmark reissued a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Price Performance

The stock has a 50 day simple moving average of $1,306.70 and a two-hundred day simple moving average of $1,137.84. The company has a market cap of $620.23 billion, a price-to-earnings ratio of 49.58, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. 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 EPS 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 company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the previous year, the business earned $9.83 earnings per share. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, equities research analysts predict that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.57%. Broadcom’s dividend payout ratio is currently 77.84%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the sale, the insider now owns 41,974 shares in the company, valued at $55,257,092.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now owns 45 shares in the company, valued at approximately $62,465.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the sale, the insider now owns 41,974 shares in the company, valued at approximately $55,257,092.04. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 over the last quarter. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Stuart Chaussee & Associates Inc. acquired a new position in shares of Broadcom during the 4th quarter worth about $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 position in shares of Broadcom during the 3rd quarter worth about $29,000. Finally, BKM Wealth Management LLC acquired a new position in shares of Broadcom during the 4th quarter worth about $29,000. 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.