Broadcom (NASDAQ:AVGO) Trading Up 2.9%

Broadcom Inc. (NASDAQ:AVGO) was up 2.9% during mid-day trading on Thursday . The company traded as high as $1,308.03 and last traded at $1,293.51. Approximately 1,165,595 shares were traded during trading, a decline of 60% from the average daily volume of 2,916,823 shares. The stock had previously closed at $1,256.82.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AVGO shares. UBS Group increased their price objective on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a research report on Thursday, March 21st. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Oppenheimer reaffirmed an “outperform” rating and issued a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Finally, Susquehanna raised their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Stock Up 3.8 %

The business’s 50 day simple moving average is $1,306.70 and its 200 day simple moving average is $1,134.07. The company has a market capitalization of $622.87 billion, a PE ratio of 49.82, a P/E/G ratio of 2.56 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 released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business’s revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the firm earned $9.83 EPS. As a group, analysts anticipate that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 2,000 shares of Broadcom 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 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 is available at the SEC website. In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the business’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 transaction of $2,624,500.00. Following the completion of the transaction, the chief executive officer now owns 168,096 shares in the company, valued at approximately $220,583,976. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the business’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 transaction, the director now owns 45 shares of the company’s stock, valued at approximately $62,465.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Broadcom

Institutional investors have recently modified their holdings of the stock. Legend Financial Advisors Inc. lifted 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 buying an additional 8 shares during the last quarter. Stuart Chaussee & Associates Inc. purchased a new stake in Broadcom in the 4th quarter valued at $25,000. Richardson Capital Management LLC purchased a new stake in Broadcom in the 1st quarter valued at $29,000. PSI Advisors LLC raised its position in Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 10 shares during the last quarter. Finally, BKM Wealth Management LLC purchased a new stake in Broadcom in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

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.