Broadcom (NASDAQ:AVGO) Stock Price Up 1.4% – Should You Buy?

Broadcom Inc. (NASDAQ:AVGO) rose 1.4% during trading on Monday . The stock traded as high as $363.97 and last traded at $362.66. Approximately 25,814,603 shares were traded during mid-day trading, an increase of 2% from the average session volume of 25,298,486 shares. The stock had previously closed at $357.61.

Analysts Set New Price Targets

Several research firms recently weighed in on AVGO. Jefferies Financial Group assumed coverage on Broadcom in a research note on Thursday, September 3rd. They issued a “buy” rating for the company. TD Cowen restated a “buy” rating and issued a $475.00 target price (down from $500.00) on shares of Broadcom in a report on Thursday, September 3rd. Rosenblatt Securities began coverage on Broadcom in a report on Thursday, September 3rd. They set a “buy” rating and a $600.00 price objective on the stock. DA Davidson set a $350.00 target price on shares of Broadcom and gave the company a “neutral” rating in a report on Friday, September 4th. Finally, Dbs Bank upgraded Broadcom to a “moderate buy” rating in a research note on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $509.04.

Broadcom Stock Performance

The company has a market capitalization of $1.73 trillion, a PE ratio of 46.32 and a beta of 1.44. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50. The company has a 50 day moving average price of $378.91 and a 200 day moving average price of $379.43.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.10. The company had revenue of $29.59 billion during the quarter, compared to the consensus estimate of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The company’s revenue was up 85.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.69 EPS. Equities analysts forecast that Broadcom Inc. will post 10.36 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st will be paid a dividend of $0.65 per share. The ex-dividend date is Monday, September 21st. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s payout ratio is presently 33.21%.

Insider Buying and Selling

In other news, Director Justine Page sold 1,602 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the transaction, the director owned 17,426 shares of the company’s stock, valued at approximately $6,514,884.36. The trade was a 8.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Brazeal sold 25,000 shares of the company’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the completion of the transaction, the insider owned 194,989 shares of the company’s stock, valued at approximately $78,254,935.37. This trade represents a 11.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 53,492 shares of company stock worth $20,840,292 over the last quarter. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Broadcom

Several large investors have recently bought and sold shares of the stock. Networth Advisors LLC increased its position in shares of Broadcom by 546.2% during the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 71 shares during the period. Core Capital Management & Research inc. purchased a new stake in Broadcom during the second quarter valued at about $31,000. Harborfront Financial Group LLC purchased a new stake in shares of Broadcom in the 2nd quarter valued at approximately $38,000. Cherry Tree Wealth Management LLC boosted its position in shares of Broadcom by 44.9% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 129 shares of the semiconductor manufacturer’s stock worth $45,000 after buying an additional 40 shares during the period. Finally, Godfrey Financial Associates Inc. acquired a new position in shares of Broadcom in the 4th quarter valued at about $56,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

About Broadcom

Broadcom Inc (NASDAQ:AVGO) designs, develops and supplies semiconductor and infrastructure software products for businesses, telecommunications providers and other organizations worldwide. Its semiconductor portfolio includes networking and connectivity components, custom application-specific integrated circuits, broadband and wireless communications products, storage adapters, optical components, and industrial solutions.

The company also provides enterprise infrastructure software through businesses including VMware, which offers virtualization and private- and hybrid-cloud solutions; mainframe and enterprise software; and cybersecurity products.