Broadcom (NASDAQ:AVGO) Shares Up 0.3%

Broadcom Inc. (NASDAQ:AVGO) was up 0.3% on Monday . The company traded as high as $1,225.99 and last traded at $1,208.22. Approximately 651,089 shares changed hands during trading, a decline of 78% from the average daily volume of 2,937,572 shares. The stock had previously closed at $1,204.71.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AVGO. Oppenheimer reiterated an “outperform” rating and set a $1,500.00 target price (up from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Cantor Fitzgerald increased their target price on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Susquehanna raised their price target on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Finally, StockNews.com cut shares of 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 assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Trading Up 2.0 %

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 firm has a market capitalization of $578.90 billion, a PE ratio of 46.30, a PEG ratio of 2.46 and a beta of 1.25. The stock’s fifty day simple moving average is $1,304.25 and its 200 day simple moving average is $1,128.64.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. Broadcom’s revenue was up 34.2% on a year-over-year basis. During the same period in the prior year, the business posted $9.83 EPS. On average, sell-side analysts predict that Broadcom Inc. will post 35.88 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the firm’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 sale, 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 SEC, which is available through this hyperlink. In related news, CEO Hock E. Tan sold 2,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $220,583,976. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the sale, the insider now directly owns 46,974 shares in the company, valued at $61,957,296.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Broadcom

Institutional investors have recently added to or reduced their stakes in the stock. Stuart Chaussee & Associates Inc. bought a new stake in Broadcom in the 4th quarter valued at $25,000. Legend Financial Advisors Inc. grew its holdings in shares of Broadcom by 72.7% in the first 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 increased its holdings in shares of 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 buying an additional 10 shares during the last quarter. Macroview Investment Management LLC purchased a new stake in shares of Broadcom during the 3rd quarter valued at about $29,000. Finally, BKM Wealth Management LLC bought a new position in shares of Broadcom in the 4th quarter valued at about $29,000. 76.43% of the stock is owned by hedge funds and other 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.