Broadcom Inc. (NASDAQ:AVGO) Short Interest Update

Broadcom Inc. (NASDAQ:AVGO) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 5,830,000 shares, a growth of 6.4% from the March 31st total of 5,480,000 shares. Based on an average trading volume of 2,960,000 shares, the days-to-cover ratio is currently 2.0 days.

Broadcom Trading Down 4.4 %

Shares of AVGO stock opened at $1,242.86 on Thursday. The business’s 50 day moving average is $1,310.35 and its two-hundred day moving average is $1,144.51. Broadcom has a twelve month low of $601.29 and a twelve month high of $1,438.17. The company has a market capitalization of $575.97 billion, a P/E ratio of 46.07, a price-to-earnings-growth ratio of 2.72 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating 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 company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same period last year, the business posted $9.83 EPS. The company’s revenue was up 34.2% on a year-over-year basis. Equities analysts forecast that Broadcom will post 35.96 EPS for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.69%. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AVGO. Benchmark reaffirmed a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and increased their price target for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research report on Monday, April 8th. Finally, Oppenheimer reissued an “outperform” rating and set a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

Insider Activity at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the 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 sale, the director now owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of the 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 in the company, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock worth $40,306,667 in the last three months. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC boosted its stake in shares of Broadcom by 9.5% in the third quarter. Commonwealth Equity Services LLC now owns 99,621 shares of the semiconductor manufacturer’s stock valued at $82,743,000 after buying an additional 8,644 shares in the last quarter. YHB Investment Advisors Inc. boosted its stake in shares of Broadcom by 8.3% in the third quarter. YHB Investment Advisors Inc. now owns 819 shares of the semiconductor manufacturer’s stock valued at $680,000 after buying an additional 63 shares in the last quarter. RMR Wealth Builders boosted its stake in shares of Broadcom by 6.5% in the third quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock valued at $5,284,000 after buying an additional 388 shares in the last quarter. Deltec Asset Management LLC boosted its stake in shares of Broadcom by 5.6% in the third quarter. Deltec Asset Management LLC now owns 9,412 shares of the semiconductor manufacturer’s stock valued at $7,817,000 after buying an additional 500 shares in the last quarter. Finally, Accurate Wealth Management LLC boosted its stake in shares of Broadcom by 13.3% in the third quarter. Accurate Wealth Management LLC now owns 1,769 shares of the semiconductor manufacturer’s stock valued at $1,565,000 after buying an additional 207 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Company Profile

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.