Broadcom (NASDAQ:AVGO) Trading 2.8% Higher – Should You Buy?

Broadcom Inc. (NASDAQ:AVGO) traded up 2.8% on Monday . The stock traded as high as $407.29 and last traded at $401.10. 30,101,450 shares changed hands during trading, an increase of 19% from the average session volume of 25,362,164 shares. The stock had previously closed at $390.24.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AVGO. UBS Group reiterated a “buy” rating and issued a $472.00 price objective (up from $415.00) on shares of Broadcom in a research report on Monday, December 1st. Raymond James Financial set a $420.00 target price on shares of Broadcom and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Macquarie began coverage on shares of Broadcom in a report on Monday, September 15th. They issued an “outperform” rating and a $420.00 target price on the stock. Evercore ISI increased their price target on shares of Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $391.04.

Broadcom Price Performance

The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The stock’s fifty day moving average price is $356.79 and its 200-day moving average price is $312.70. The firm has a market cap of $1.89 trillion, a PE ratio of 102.32, a P/E/G ratio of 1.33 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same period in the prior year, the business posted $1.24 earnings per share. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Henry Samueli sold 368,797 shares of the business’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the sale, the director directly owned 37,722,534 shares in the company, valued at approximately $12,746,821,463.94. The trade was a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hock E. Tan sold 100,000 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total value of $33,958,000.00. Following the completion of the transaction, the chief executive officer owned 725,638 shares of the company’s stock, valued at approximately $246,412,152.04. This represents a 12.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 665,271 shares of company stock worth $225,483,192. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

Large investors have recently added to or reduced their stakes in the business. Assetmark Inc. raised its holdings in Broadcom by 2.4% during the 2nd quarter. Assetmark Inc. now owns 1,703,487 shares of the semiconductor manufacturer’s stock worth $469,566,000 after purchasing an additional 39,466 shares during the last quarter. Capital Counsel LLC NY acquired a new stake in Broadcom during the 2nd quarter worth $221,000. Waterloo Capital L.P. boosted its position in shares of Broadcom by 7.0% in the 2nd quarter. Waterloo Capital L.P. now owns 48,361 shares of the semiconductor manufacturer’s stock worth $13,331,000 after purchasing an additional 3,180 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Broadcom by 27.9% in the first quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer’s stock valued at $10,737,000 after purchasing an additional 13,978 shares during the last quarter. Finally, RiverFront Investment Group LLC increased its holdings in Broadcom by 107.6% in the second quarter. RiverFront Investment Group LLC now owns 16,524 shares of the semiconductor manufacturer’s stock valued at $4,555,000 after purchasing an additional 8,566 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

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.