Broadcom (NASDAQ:AVGO) Trading 1.2% Higher

Shares of Broadcom Inc. (NASDAQ:AVGOGet Free Report) shot up 1.2% during trading on Monday . The stock traded as high as $1,362.98 and last traded at $1,341.55. 568,391 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 3,055,642 shares. The stock had previously closed at $1,325.41.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of analyst reports. Mizuho upped their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Benchmark restated a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. UBS Group increased their price target on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Summit Insights upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a report on Friday, December 8th. Finally, Susquehanna increased their price target 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. Three analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $1,230.18.

Read Our Latest Stock Analysis on AVGO

Broadcom Price Performance

The company has a market cap of $615.81 billion, a PE ratio of 49.62, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The business’s 50 day moving average price is $1,282.61 and its 200-day moving average price is $1,078.22. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its quarterly earnings data 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 net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same quarter last year, the firm posted $9.83 earnings per share. The business’s quarterly revenue was up 34.2% on a year-over-year basis. As a group, analysts forecast that Broadcom Inc. will post 36.8 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 dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is currently 77.84%.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the sale, the insider now owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction on 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 completion of 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 SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the transaction, the insider now directly owns 46,974 shares of the company’s stock, valued at approximately $61,957,296.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,310 shares of company stock valued at $29,405,117. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Broadcom

Several hedge funds and other institutional investors have recently modified their holdings of AVGO. Cantor Fitzgerald Investment Advisor L.P boosted its holdings in shares of Broadcom by 94.4% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock valued at $47,283,000 after acquiring an additional 36,458 shares during the period. Fairfield Bush & CO. boosted its holdings in shares of Broadcom by 2.6% during the first quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock valued at $3,114,000 after acquiring an additional 123 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Broadcom by 20.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock valued at $320,887,000 after acquiring an additional 87,945 shares during the period. Loomis Sayles & Co. L P boosted its holdings in shares of Broadcom by 1.1% during the first quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock valued at $25,412,000 after acquiring an additional 420 shares during the period. Finally, Ergoteles LLC acquired a new position in shares of Broadcom during the first quarter valued at $1,095,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Company Profile

(Get Free Report)

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.

Further Reading

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