Broadcom (NASDAQ:AVGO) Trading Up 1.2%

Shares of Broadcom Inc. (NASDAQ:AVGO) shot up 1.2% on Monday . The company traded as high as $1,305.61 and last traded at $1,294.03. 374,558 shares were traded during mid-day trading, a decline of 87% from the average session volume of 2,876,052 shares. The stock had previously closed at $1,278.11.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Evercore ISI began coverage on Broadcom in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 target price for the company. Susquehanna boosted their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Benchmark restated a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Mizuho increased their target price on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Finally, UBS Group raised their target price on Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Price Performance

The firm has a market capitalization of $614.20 billion, a P/E ratio of 49.12, a PEG ratio of 2.60 and a beta of 1.25. The firm has a 50-day moving average of $1,308.82 and a 200-day moving average of $1,157.75. 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 announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same period in the prior year, the company posted $9.83 earnings per share. The company’s quarterly revenue was up 34.2% on a year-over-year basis. As a group, analysts predict that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

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. This represents a $21.00 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Buying and Selling at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s 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 sale, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares in the company, valued at $5,991,048.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. 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. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AVGO. Horizon Family Wealth Inc. boosted its position in shares of Broadcom by 1.3% in the fourth quarter. Horizon Family Wealth Inc. now owns 640 shares of the semiconductor manufacturer’s stock worth $715,000 after purchasing an additional 8 shares during the period. Tucker Asset Management LLC boosted its holdings in Broadcom by 12.5% in the 4th quarter. Tucker Asset Management LLC now owns 72 shares of the semiconductor manufacturer’s stock worth $80,000 after buying an additional 8 shares during the period. Buckley Wealth Management LLC boosted its holdings in Broadcom by 0.7% in the 1st quarter. Buckley Wealth Management LLC now owns 1,153 shares of the semiconductor manufacturer’s stock worth $1,529,000 after buying an additional 8 shares during the period. Legend Financial Advisors Inc. raised its holdings in Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 8 shares during the period. Finally, Ascent Wealth Partners LLC raised its holdings in Broadcom by 0.3% during the first quarter. Ascent Wealth Partners LLC now owns 2,964 shares of the semiconductor manufacturer’s stock valued at $3,929,000 after acquiring an additional 8 shares during the period. 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.