Broadcom (NASDAQ:AVGO) Trading Down 0.5%

Broadcom Inc. (NASDAQ:AVGO)’s share price dropped 0.5% during mid-day trading on Tuesday . The stock traded as low as $161.11 and last traded at $163.18. Approximately 4,726,365 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 31,358,043 shares. The stock had previously closed at $164.02.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AVGO shares. Mizuho boosted their price objective on shares of Broadcom from $162.50 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Sanford C. Bernstein raised their price objective on Broadcom from $160.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. TD Cowen raised Broadcom to a “strong-buy” rating in a research report on Monday. Benchmark reiterated a “buy” rating and issued a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. Finally, William Blair initiated coverage on shares of Broadcom in a research note on Wednesday. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $189.23.

Broadcom Price Performance

The stock has a market capitalization of $752.55 billion, a PE ratio of 6.95, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm has a 50 day moving average price of $156.94 and a 200 day moving average price of $146.43.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.95 earnings per share. Research analysts anticipate that Broadcom Inc. will post 3.77 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be given a $0.53 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Thursday, September 19th. Broadcom’s dividend payout ratio is presently 9.12%.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the transaction, the chief executive officer now owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVGO. Legend Financial Advisors Inc. boosted its holdings in shares of Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 8 shares during the last quarter. Richardson Capital Management LLC purchased a new position in Broadcom during the 1st quarter valued at approximately $29,000. Delta Asset Management LLC TN increased its stake in Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new stake in shares of Broadcom during the 1st quarter worth approximately $36,000. Finally, Ulland Investment Advisors LLC bought a new position in shares of Broadcom during the 1st quarter valued at approximately $37,000. 76.43% of the stock is currently owned by 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.