Broadcom (NASDAQ:AVGO) Shares Up 1%

Shares of Broadcom Inc. (NASDAQ:AVGO) were up 1% during trading on Friday . The company traded as high as $153.58 and last traded at $150.70. Approximately 5,563,804 shares were traded during trading, a decline of 83% from the average daily volume of 32,091,275 shares. The stock had previously closed at $149.26.

Analyst Ratings Changes

AVGO has been the topic of a number of analyst reports. Jefferies Financial Group raised their price target on Broadcom from $155.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. UBS Group raised their target price on Broadcom from $161.00 to $173.50 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Evercore ISI upped their price target on Broadcom from $162.00 to $201.00 and gave the company an “outperform” rating in a report on Thursday, June 13th. Wells Fargo & Company increased their price target on shares of Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a research note on Thursday, June 13th. Finally, Piper Sandler boosted their price objective on shares of Broadcom from $165.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $183.11.

Broadcom Stock Down 0.8 %

The company has a market capitalization of $711.36 billion, a PE ratio of 6.63, a P/E/G ratio of 2.87 and a beta of 1.16. The company has a current ratio of 1.25, a quick ratio of 1.16 and a debt-to-equity ratio of 1.02. The firm has a 50 day simple moving average of $190.06 and a two-hundred day simple moving average of $155.59.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a net margin of 24.10% and a return on equity of 35.82%. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter last year, the firm earned $0.95 earnings per share. The firm’s revenue was up 47.3% compared to the same quarter last year. Research analysts expect that Broadcom Inc. will post 3.74 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be paid a dividend of $0.53 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.39%. Broadcom’s dividend payout ratio is 9.03%.

Insider Activity

In other news, Director Justine Page sold 2,540 shares of Broadcom stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the sale, the director now directly owns 27,480 shares in the company, valued at approximately $4,809,714.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Justine Page sold 2,540 shares of the firm’s stock in a transaction 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 transaction, the director now owns 27,480 shares in the company, valued at $4,809,714.48. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Hock E. Tan sold 7,502 shares of the business’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 completion of the sale, the chief executive officer now owns 138,191 shares in the company, valued at $235,746,936.45. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

A number of large investors have recently bought and sold shares of the stock. Legend Financial Advisors Inc. lifted its stake in shares of Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 8 shares during the period. Richardson Capital Management LLC acquired a new stake in shares of Broadcom during the first quarter worth $29,000. Delta Asset Management LLC TN grew its position in shares of Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 17 shares during the period. Redmont Wealth Advisors LLC acquired a new position in Broadcom in the first quarter valued at $36,000. Finally, Ulland Investment Advisors LLC purchased a new position in Broadcom during the first quarter worth about $37,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

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.