Broadcom (NASDAQ:AVGO) Trading Up 0.4%

Broadcom Inc. (NASDAQ:AVGO) rose 0.4% on Tuesday . The stock traded as high as $1,320.33 and last traded at $1,315.42. Approximately 346,742 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 2,939,309 shares. The stock had previously closed at $1,310.69.

Analysts Set New Price Targets

AVGO has been the subject of several analyst reports. Cantor Fitzgerald upped their target price on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Barclays upped their price objective on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Rosenblatt Securities restated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Finally, Benchmark restated a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Price Performance

The firm has a market capitalization of $594.40 billion, a P/E ratio of 47.54, a price-to-earnings-growth ratio of 2.67 and a beta of 1.25. The business has a fifty day moving average of $1,307.00 and a 200-day moving average of $1,115.19. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $11.79 billion. During the same period in the prior year, the company posted $9.83 EPS. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. On average, sell-side analysts forecast that Broadcom Inc. will post 35.95 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is currently 77.84%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Justine Page sold 110 shares of the stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the transaction, the director now directly owns 3,125 shares of the company’s stock, valued at $4,134,375. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Broadcom

Several large investors have recently modified their holdings of AVGO. Stuart Chaussee & Associates Inc. bought a new stake in shares of Broadcom during the 4th quarter worth $25,000. Legend Financial Advisors Inc. boosted its stake 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 acquiring an additional 8 shares in the last quarter. PSI Advisors LLC boosted its stake in shares of 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 acquiring an additional 10 shares in the last quarter. Macroview Investment Management LLC purchased a new stake in shares of Broadcom in the third quarter valued at $29,000. Finally, BKM Wealth Management LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at $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.