Broadcom (NASDAQ:AVGO) Trading 1.7% Higher

Broadcom Inc. (NASDAQ:AVGO) was up 1.7% on Friday . The company traded as high as $1,270.00 and last traded at $1,259.93. Approximately 729,359 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 2,884,107 shares. The stock had previously closed at $1,238.57.

Analysts Set New Price Targets

A number of analysts recently commented on AVGO shares. Susquehanna increased their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a report on Monday, April 8th. UBS Group upped their price objective on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Evercore ISI began coverage on shares of Broadcom in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 target price for the company. Finally, Mizuho increased their price target on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Stock Performance

The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The firm has a market cap of $592.30 billion, a PE ratio of 47.37, a P/E/G ratio of 2.52 and a beta of 1.25. The stock’s 50 day moving average price is $1,308.66 and its 200 day moving average price is $1,147.78.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS 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 analyst estimates of $11.79 billion. During the same period last year, the company posted $9.83 earnings per share. The firm’s revenue was up 34.2% compared to the same quarter last year. As a group, equities analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.64%. Broadcom’s payout ratio is currently 77.84%.

Insider Activity

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction 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 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 link. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction that occurred 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 approximately $5,991,048.62. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Justine Page sold 110 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the transaction, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Howland Capital Management LLC raised its stake in Broadcom by 2.3% during the first quarter. Howland Capital Management LLC now owns 487 shares of the semiconductor manufacturer’s stock valued at $645,000 after buying an additional 11 shares in the last quarter. SPC Financial Inc. lifted its stake in Broadcom by 3.8% during the first quarter. SPC Financial Inc. now owns 731 shares of the semiconductor manufacturer’s stock worth $969,000 after purchasing an additional 27 shares during the last quarter. McClarren Financial Advisors Inc. boosted its holdings in Broadcom by 2,606.1% in the first quarter. McClarren Financial Advisors Inc. now owns 1,326 shares of the semiconductor manufacturer’s stock worth $1,757,000 after purchasing an additional 1,277 shares during the period. Geneos Wealth Management Inc. increased its stake in Broadcom by 52.2% during the first quarter. Geneos Wealth Management Inc. now owns 8,063 shares of the semiconductor manufacturer’s stock valued at $10,687,000 after purchasing an additional 2,767 shares during the last quarter. Finally, 9258 Wealth Management LLC raised its holdings in shares of Broadcom by 2.4% during the first quarter. 9258 Wealth Management LLC now owns 3,979 shares of the semiconductor manufacturer’s stock worth $5,274,000 after purchasing an additional 95 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

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.