Broadcom (NASDAQ:AVGO) Shares Down 1.5%

Broadcom Inc. (NASDAQ:AVGO) was down 1.5% during trading on Friday . The company traded as low as $1,234.00 and last traded at $1,240.45. Approximately 568,256 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 2,914,473 shares. The stock had previously closed at $1,258.99.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Benchmark reiterated a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research note on Thursday, March 21st. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Evercore ISI initiated coverage on Broadcom in a research note on Tuesday. They set an “outperform” rating and a $1,620.00 price target for the company. Rosenblatt Securities restated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Finally, StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Stock Down 2.6 %

The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $568.16 billion, a P/E ratio of 45.98, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. The company has a 50-day moving average of $1,306.69 and a two-hundred day moving average of $1,116.18.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping 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 business had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same period in the previous year, the company posted $9.83 earnings per share. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. On average, research analysts predict that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Activity at Broadcom

In other news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $1,367.52, for a total value of $3,418,800.00. Following the completion of the transaction, the insider now owns 44,474 shares of the company’s stock, valued at $60,819,084.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Broadcom

Institutional investors have recently modified their holdings of the stock. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Broadcom in the fourth quarter worth approximately $25,000. Legend Financial Advisors Inc. increased its holdings in 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 purchasing an additional 8 shares during the period. PSI Advisors LLC increased its holdings in 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 purchasing an additional 10 shares during the period. Macroview Investment Management LLC purchased a new position in Broadcom during the 3rd quarter worth $29,000. Finally, BKM Wealth Management LLC purchased a new position in Broadcom during the 4th quarter worth $29,000. 76.43% of the stock is owned by institutional investors.

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.