Broadcom (NASDAQ:AVGO) Shares Down 0.1%

Shares of Broadcom Inc. (NASDAQ:AVGO) dropped 0.1% on Tuesday . The stock traded as low as $1,302.46 and last traded at $1,309.59. Approximately 343,813 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 2,861,364 shares. The stock had previously closed at $1,310.31.

Analyst Ratings Changes

AVGO has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research report on Monday, April 8th. Evercore ISI assumed coverage on Broadcom in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price objective for the company. Susquehanna boosted their price target on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. Benchmark restated a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Finally, Cantor Fitzgerald increased 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. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Price Performance

The stock has a market capitalization of $603.89 billion, a P/E ratio of 48.54, a PEG ratio of 2.60 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The stock’s fifty day moving average is $1,308.68 and its 200-day moving average is $1,154.58.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 29.93% and a return on equity of 47.71%. The business’s revenue was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.83 EPS. On average, equities analysts anticipate that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Dividend Announcement

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

Insider Activity

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the sale, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now owns 45 shares in the company, valued at $62,465.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Broadcom by 14.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 632,667 shares of the semiconductor manufacturer’s stock worth $525,481,000 after purchasing an additional 79,275 shares during the last quarter. NBT Bank N A NY boosted its holdings in shares of Broadcom by 337.6% during the 3rd quarter. NBT Bank N A NY now owns 1,199 shares of the semiconductor manufacturer’s stock worth $996,000 after buying an additional 925 shares during the period. River Street Advisors LLC grew its stake in Broadcom by 15.2% in the 3rd quarter. River Street Advisors LLC now owns 1,708 shares of the semiconductor manufacturer’s stock valued at $1,419,000 after buying an additional 226 shares during the last quarter. Chicago Partners Investment Group LLC raised its holdings in Broadcom by 18.8% in 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 acquiring an additional 204 shares during the period. Finally, Advisor Partners II LLC lifted its position in Broadcom by 5.9% during the third quarter. Advisor Partners II LLC now owns 19,616 shares of the semiconductor manufacturer’s stock worth $16,293,000 after acquiring an additional 1,101 shares during the last quarter. Institutional investors and hedge funds 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.