Broadcom (NASDAQ:AVGO) Trading Up 0.8%

Broadcom Inc. (NASDAQ:AVGO)’s share price was up 0.8% during mid-day trading on Thursday . The stock traded as high as $159.60 and last traded at $157.21. Approximately 7,797,395 shares traded hands during trading, a decline of 76% from the average daily volume of 32,179,451 shares. The stock had previously closed at $155.98.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AVGO shares. Mizuho lifted their price objective on shares of Broadcom from $162.50 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Barclays boosted their price target on shares of Broadcom from $150.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, June 13th. UBS Group boosted their price target on shares of Broadcom from $161.00 to $173.50 and gave the company a “buy” rating in a research report on Thursday, June 13th. JPMorgan Chase & Co. boosted their price target on shares of Broadcom from $170.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, June 13th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $165.80 price target on shares of Broadcom in a research report on Monday, June 10th. One investment analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average price target of $240.08.

Broadcom Trading Down 2.0 %

The company has a debt-to-equity ratio of 1.02, a current ratio of 1.25 and a quick ratio of 1.16. The business’s 50 day moving average price is $185.77 and its 200-day moving average price is $146.74. The firm has a market capitalization of $732.45 billion, a price-to-earnings ratio of 6.77, a price-to-earnings-growth ratio of 2.83 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Wednesday, June 12th. The semiconductor manufacturer reported $1.10 earnings per share (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 business had revenue of $12.49 billion for the quarter, compared to analyst estimates of $12.06 billion. During the same period in the previous year, the business posted $0.95 earnings per share. The business’s revenue was up 43.0% compared to the same quarter last year. Equities analysts forecast that Broadcom Inc. will post 3.74 EPS for the current fiscal year.

Broadcom Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 24th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Monday, June 24th. Broadcom’s dividend payout ratio is currently 9.03%.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Justine Page sold 2,540 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $175.03, for a total transaction of $444,566.04. Following the sale, the director now directly owns 27,480 shares in the company, valued at approximately $4,809,714.48. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Institutional Trading of Broadcom

Several institutional investors and hedge funds have recently modified their holdings of AVGO. BKM Wealth Management LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at about $29,000. FORVIS Wealth Advisors LLC lifted its stake in shares of Broadcom by 8.1% during the fourth quarter. FORVIS Wealth Advisors LLC now owns 677 shares of the semiconductor manufacturer’s stock valued at $756,000 after buying an additional 51 shares during the period. OneAscent Financial Services LLC lifted its stake in shares of Broadcom by 57.9% during the fourth quarter. OneAscent Financial Services LLC now owns 477 shares of the semiconductor manufacturer’s stock valued at $532,000 after buying an additional 175 shares during the period. Advisor Resource Council lifted its stake in shares of Broadcom by 90.4% during the fourth quarter. Advisor Resource Council now owns 1,470 shares of the semiconductor manufacturer’s stock valued at $1,641,000 after buying an additional 698 shares during the period. Finally, CX Institutional lifted its stake in shares of Broadcom by 0.8% during the fourth quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock valued at $1,439,000 after buying an additional 10 shares during the period. 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.