Broadcom (NASDAQ:AVGO) Trading 1.8% Higher

Broadcom Inc. (NASDAQ:AVGO)’s stock price shot up 1.8% on Tuesday . The stock traded as high as $1,257.53 and last traded at $1,246.69. 468,758 shares were traded during trading, a decline of 84% from the average session volume of 2,929,223 shares. The stock had previously closed at $1,224.46.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AVGO. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Oppenheimer reaffirmed 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. Mizuho lifted their target price on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Susquehanna lifted their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Stock Performance

The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The firm’s 50 day simple moving average is $1,304.15 and its 200-day simple moving average is $1,129.53. The company has a market cap of $582.44 billion, a price-to-earnings ratio of 46.58, a PEG ratio of 2.55 and a beta of 1.25.

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

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.67%. Broadcom’s payout ratio is currently 77.84%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the sale, the director now directly owns 45 shares in the company, valued at $62,465.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $1,367.52, for a total transaction of $3,418,800.00. Following the sale, the insider now owns 44,474 shares in the company, valued at $60,819,084.48. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 over the last 90 days. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Broadcom

Hedge funds have recently modified their holdings of the stock. Stuart Chaussee & Associates Inc. purchased a new position in shares of Broadcom in the fourth quarter valued at $25,000. Legend Financial Advisors Inc. increased its position in 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 purchasing an additional 8 shares in the last quarter. PSI Advisors LLC increased its position in 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 purchasing an additional 10 shares in the last quarter. Macroview Investment Management LLC acquired a new stake in Broadcom in the 3rd quarter worth about $29,000. Finally, BKM Wealth Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at about $29,000. 76.43% of the stock is owned by institutional investors and hedge funds.

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.