Broadcom (NASDAQ:AVGO) Trading Down 0.7%

Broadcom Inc. (NASDAQ:AVGO)’s share price was down 0.7% during trading on Monday . The company traded as low as $168.35 and last traded at $169.90. Approximately 8,137,685 shares were traded during trading, a decline of 74% from the average daily volume of 31,621,168 shares. The stock had previously closed at $171.10.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Piper Sandler boosted their target price on Broadcom from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, June 13th. JPMorgan Chase & Co. boosted their price target on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Barclays boosted their price target on Broadcom from $150.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, June 13th. Wells Fargo & Company upped their target price on Broadcom from $143.00 to $170.00 and gave the stock an “equal weight” rating in a report on Thursday, June 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 target price on shares of Broadcom in a report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $189.23.

Broadcom Stock Up 0.2 %

The firm has a market cap of $797.85 billion, a price-to-earnings ratio of 7.31, a P/E/G ratio of 2.55 and a beta of 1.16. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The stock has a 50-day moving average of $156.81 and a 200-day moving average of $146.91.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business 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 firm’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.95 earnings per share. Sell-side analysts predict that Broadcom Inc. will post 3.77 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.24%. Broadcom’s dividend payout ratio is presently 9.12%.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 7,502 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the sale, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction dated 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 sale, the chief executive officer now directly owns 138,191 shares in the company, valued at $235,746,936.45. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of Broadcom

A number of hedge funds have recently made changes to their positions in the company. Capital International Ltd. CA raised its position in shares of Broadcom by 1.7% during the fourth quarter. Capital International Ltd. CA now owns 78,268 shares of the semiconductor manufacturer’s stock worth $87,367,000 after acquiring an additional 1,310 shares during the last quarter. Focus Financial Network Inc. ADV purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $2,238,000. Gryphon Financial Partners LLC boosted its position in shares of Broadcom by 99.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,606 shares of the semiconductor manufacturer’s stock valued at $1,731,000 after buying an additional 801 shares during the last quarter. Ensign Peak Advisors Inc boosted its position in shares of Broadcom by 19.1% during the second quarter. Ensign Peak Advisors Inc now owns 524,537 shares of the semiconductor manufacturer’s stock valued at $842,160,000 after buying an additional 84,196 shares during the last quarter. Finally, Steward Partners Investment Solutions LLC purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $2,205,000. 76.43% of the stock is owned by institutional investors and hedge funds.

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.