Broadcom (NASDAQ:AVGO) Stock Price Down 1.5%

Broadcom Inc. (NASDAQ:AVGO) shares fell 1.5% during mid-day trading on Friday . The stock traded as low as $1,234.00 and last traded at $1,240.45. 568,256 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 2,914,473 shares. The stock had previously closed at $1,258.99.

Analysts Set New Price Targets

A number of analysts have issued reports on AVGO shares. Mizuho boosted their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research note on Thursday, March 21st. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Barclays upped their target price on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, The Goldman Sachs Group restated a “buy” rating and set a $1,325.00 target price on shares of Broadcom in a research note on Friday, January 19th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Trading Down 4.3 %

The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The company has a fifty day moving average of $1,305.11 and a two-hundred day moving average of $1,120.88. The stock has a market capitalization of $558.29 billion, a price-to-earnings ratio of 44.65, a P/E/G ratio of 2.57 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $11.79 billion. During the same period last year, the company earned $9.83 earnings per share. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, research analysts expect that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 1.74%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the transaction, the insider now owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the transaction, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the transaction, the insider now owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Horizon Family Wealth Inc. increased 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 valued at $715,000 after buying an additional 8 shares in the last quarter. Tucker Asset Management LLC increased its position in shares of Broadcom by 12.5% in the fourth quarter. Tucker Asset Management LLC now owns 72 shares of the semiconductor manufacturer’s stock valued at $80,000 after buying an additional 8 shares in the last quarter. Buckley Wealth Management LLC increased its position in Broadcom by 0.7% during the 1st quarter. Buckley Wealth Management LLC now owns 1,153 shares of the semiconductor manufacturer’s stock worth $1,529,000 after purchasing an additional 8 shares in the last quarter. Legend Financial Advisors Inc. increased its position in Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 8 shares in the last quarter. Finally, BetterWealth LLC increased its position in Broadcom by 1.5% during the 4th quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock worth $672,000 after purchasing an additional 9 shares in the last quarter. 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.