Broadcom (NASDAQ:AVGO) Trading 0.2% Higher After Analyst Upgrade

Broadcom Inc. (NASDAQ:AVGO)’s share price traded up 0.2% on Monday after Mizuho raised their price target on the stock from $245.00 to $260.00. Mizuho currently has an outperform rating on the stock. Broadcom traded as high as $229.26 and last traded at $224.80. 8,173,046 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 23,738,336 shares. The stock had previously closed at $224.31.

Several other brokerages have also commented on AVGO. TD Cowen boosted their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Cantor Fitzgerald lifted their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Morgan Stanley upped their price target on Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $223.54.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the transaction, the director now owns 6,460 shares in the company, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 in the last 90 days. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Broadcom

A number of institutional investors have recently added to or reduced their stakes in AVGO. Greenfield Savings Bank raised its holdings in shares of Broadcom by 21.6% in the 4th quarter. Greenfield Savings Bank now owns 3,403 shares of the semiconductor manufacturer’s stock worth $789,000 after purchasing an additional 605 shares during the period. Grandview Asset Management LLC lifted its position in Broadcom by 3.9% during the fourth quarter. Grandview Asset Management LLC now owns 33,039 shares of the semiconductor manufacturer’s stock valued at $7,660,000 after buying an additional 1,230 shares in the last quarter. TPG Financial Advisors LLC purchased a new stake in Broadcom during the fourth quarter worth approximately $202,000. Ellenbecker Investment Group increased its position in shares of Broadcom by 11.5% in the fourth quarter. Ellenbecker Investment Group now owns 1,871 shares of the semiconductor manufacturer’s stock worth $434,000 after acquiring an additional 193 shares in the last quarter. Finally, Traveka Wealth LLC raised its stake in shares of Broadcom by 16.8% in the 4th quarter. Traveka Wealth LLC now owns 6,800 shares of the semiconductor manufacturer’s stock valued at $1,577,000 after acquiring an additional 979 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

The firm has a market cap of $1.06 trillion, a price-to-earnings ratio of 195.73, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company’s fifty day moving average is $198.03 and its two-hundred day moving average is $176.17.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company’s revenue was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 earnings per share. Equities research analysts forecast that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is presently 191.87%.

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.