Broadcom (NASDAQ:AVGO) Trading Down 1.1%

Broadcom Inc. (NASDAQ:AVGO)’s share price fell 1.1% on Thursday . The company traded as low as $1,302.00 and last traded at $1,310.72. 217,237 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 2,825,847 shares. The stock had previously closed at $1,325.37.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AVGO. Benchmark reissued a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a research note on Friday, January 19th. Cantor Fitzgerald boosted their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. UBS Group upped their price objective on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Finally, Mizuho boosted their target price on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Trading Down 1.5 %

The stock has a market cap of $605.07 billion, a P/E ratio of 48.39, a PEG ratio of 2.60 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The stock’s fifty day moving average price is $1,309.54 and its 200 day moving average price is $1,158.92.

Broadcom (NASDAQ:AVGO) last posted its quarterly 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 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 quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.83 EPS. Equities research analysts expect that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

Insider Transactions at Broadcom

In other Broadcom news, Director Justine Page sold 110 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the transaction, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justine Page sold 110 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now directly owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 in the last quarter. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Broadcom

Several hedge funds and other institutional investors have recently made changes to their positions in AVGO. Chicago Partners Investment Group LLC increased its position in shares of Broadcom by 18.8% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,288 shares of the semiconductor manufacturer’s stock valued at $1,111,000 after purchasing an additional 204 shares during the last quarter. Inspire Advisors LLC grew its stake in shares of Broadcom by 7.3% during the 3rd quarter. Inspire Advisors LLC now owns 309 shares of the semiconductor manufacturer’s stock valued at $257,000 after acquiring an additional 21 shares during the period. Simmons Bank grew its stake in shares of Broadcom by 7.1% during the 3rd quarter. Simmons Bank now owns 1,689 shares of the semiconductor manufacturer’s stock valued at $1,403,000 after acquiring an additional 112 shares during the period. AustralianSuper Pty Ltd grew its stake in shares of Broadcom by 57.7% during the 3rd quarter. AustralianSuper Pty Ltd now owns 11,504 shares of the semiconductor manufacturer’s stock valued at $9,555,000 after acquiring an additional 4,208 shares during the period. Finally, Gradient Investments LLC grew its stake in shares of Broadcom by 6.0% during the 3rd quarter. Gradient Investments LLC now owns 14,926 shares of the semiconductor manufacturer’s stock valued at $12,397,000 after acquiring an additional 847 shares during the period. Hedge funds and other 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.