Broadcom (NASDAQ:AVGO) Shares Down 0.5%

Broadcom Inc. (NASDAQ:AVGO)’s share price was down 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 trading, a decline of 85% from the average daily volume of 31,358,043 shares. The stock had previously closed at $164.02.

Analysts Set New Price Targets

Several equities analysts have weighed in on AVGO shares. Citigroup reiterated a “buy” rating and issued a $156.00 target price on shares of Broadcom in a report on Tuesday, June 11th. JPMorgan Chase & Co. upped their price objective on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Evercore ISI increased their price objective on Broadcom from $162.00 to $201.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Melius Research started coverage on Broadcom in a research report on Monday, June 3rd. They issued a “buy” rating and a $185.00 target price on the stock. Finally, The Goldman Sachs Group increased their price target on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $189.23.

Broadcom Price Performance

The stock has a fifty day simple moving average of $157.41 and a 200-day simple moving average of $145.98. The company has a market capitalization of $752.32 billion, a PE ratio of 7.02, a P/E/G 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.

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

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 19th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.31%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Insider Activity at Broadcom

In other Broadcom 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 transaction of $12,798,036.90. Following the transaction, the chief executive officer now owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Justine Page sold 2,540 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $175.03, for a total value of $444,566.04. Following the completion of the sale, the director now directly owns 27,480 shares of the company’s stock, valued at $4,809,714.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the completion of the transaction, 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 Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. TBH Global Asset Management LLC increased its position in Broadcom by 29.2% in the 4th quarter. TBH Global Asset Management LLC now owns 641 shares of the semiconductor manufacturer’s stock valued at $715,000 after acquiring an additional 145 shares during the period. Gilbert & Cook Inc. lifted its stake in shares of Broadcom by 4.9% in the 4th quarter. Gilbert & Cook Inc. now owns 837 shares of the semiconductor manufacturer’s stock worth $934,000 after acquiring an additional 39 shares during the period. Aveo Capital Partners LLC increased its stake in shares of Broadcom by 15.9% during the fourth quarter. Aveo Capital Partners LLC now owns 459 shares of the semiconductor manufacturer’s stock worth $512,000 after acquiring an additional 63 shares during the period. 9258 Wealth Management LLC lifted its position in Broadcom by 1.5% in the fourth quarter. 9258 Wealth Management LLC now owns 3,884 shares of the semiconductor manufacturer’s stock valued at $4,336,000 after purchasing an additional 58 shares during the period. Finally, Gryphon Financial Partners LLC boosted its holdings in Broadcom by 99.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,606 shares of the semiconductor manufacturer’s stock valued at $1,731,000 after purchasing an additional 801 shares in the last quarter. 76.43% of the stock is currently 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.