Broadcom (NASDAQ:AVGO) Trading Up 0.2%

Broadcom Inc. (NASDAQ:AVGO)’s stock price was up 0.2% during trading on Monday . The stock traded as high as $173.50 and last traded at $170.48. Approximately 5,346,563 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 32,220,496 shares. The stock had previously closed at $170.07.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AVGO shares. Jefferies Financial Group raised their price target on shares of Broadcom from $155.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Mizuho raised their price target on shares of Broadcom from $162.50 to $190.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Morgan Stanley restated an “overweight” rating and issued a $165.80 price target on shares of Broadcom in a research note on Monday, June 10th. StockNews.com upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Rosenblatt Securities raised their price target on shares of Broadcom from $165.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $240.08.

Broadcom Stock Down 1.2 %

The business’s 50 day moving average is $184.22 and its 200 day moving average is $146.25. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.16 and a current ratio of 1.25. The stock has a market cap of $788.42 billion, a price-to-earnings ratio of 7.28, a price-to-earnings-growth ratio of 2.98 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, June 12th. The semiconductor manufacturer reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. Broadcom had a net margin of 24.10% and a return on equity of 35.82%. The firm had revenue of $12.49 billion during the quarter, compared to analyst estimates of $12.06 billion. During the same quarter last year, the business posted $0.95 EPS. The company’s revenue was up 43.0% on a year-over-year basis. Equities analysts expect that Broadcom Inc. will post 3.72 earnings per share for the current year.

Broadcom Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 24th were given a $0.525 dividend. The ex-dividend date was Monday, June 24th. This represents a $2.10 dividend on an annualized basis and a yield of 1.24%. Broadcom’s payout ratio is 9.03%.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the sale, the chief executive officer now owns 138,191 shares in the company, valued at approximately $235,746,936.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Justine Page sold 2,540 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $175.03, for a total transaction of $444,566.04. Following the transaction, the director now owns 27,480 shares in the company, valued at approximately $4,809,714.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 7,502 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the transaction, the chief executive officer now owns 138,191 shares in the company, valued at approximately $235,746,936.45. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AVGO. Stuart Chaussee & Associates Inc. bought a new position in shares of Broadcom during the 4th quarter valued at $25,000. Legend Financial Advisors Inc. raised its holdings 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 valued at $25,000 after purchasing an additional 8 shares in the last quarter. PSI Advisors LLC raised its holdings in Broadcom by 66.7% in 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 during the period. BKM Wealth Management LLC bought a new position in Broadcom in the 4th quarter worth $29,000. Finally, Richardson Capital Management LLC bought a new position in Broadcom in the 1st quarter worth $29,000. Institutional investors own 76.43% of the company’s stock.

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.