Broadcom (NASDAQ:AVGO) Trading Down 0.1%

Broadcom Inc. (NASDAQ:AVGO)’s stock price dropped 0.1% during trading on Thursday . The company traded as low as $1,587.00 and last traded at $1,590.00. Approximately 798,641 shares were traded during trading, a decline of 75% from the average daily volume of 3,135,655 shares. The stock had previously closed at $1,592.00.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of recent analyst reports. TD Cowen raised their price target on shares of Broadcom from $1,500.00 to $1,750.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Rosenblatt Securities restated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a report on Wednesday, June 12th. JPMorgan Chase & Co. increased their price objective on Broadcom from $1,700.00 to $2,000.00 and gave the stock an “overweight” rating in a report on Thursday, June 13th. Sanford C. Bernstein boosted their target price on Broadcom from $1,600.00 to $1,950.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Finally, UBS Group upped their target price on Broadcom from $1,610.00 to $1,735.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Three research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,673.04.

Broadcom Stock Up 1.2 %

The company has a market capitalization of $747.36 billion, a PE ratio of 69.06, a P/E/G ratio of 2.75 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.16 and a current ratio of 1.25. The company’s 50-day moving average is $1,433.70 and its 200 day moving average is $1,302.33.

Broadcom shares are going to split before the market opens on Monday, July 15th. The 10-1 split was announced on Wednesday, June 12th. The newly issued shares will be issued to shareholders after the market closes on Friday, July 12th.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, June 12th. The semiconductor manufacturer reported $10.96 earnings per share for the quarter, topping analysts’ consensus estimates of $10.78 by $0.18. Broadcom had a net margin of 24.10% and a return on equity of 35.82%. The company had revenue of $12.49 billion during the quarter, compared to analyst estimates of $12.06 billion. During the same period in the previous year, the business earned $9.51 EPS. The firm’s revenue for the quarter was up 43.0% on a year-over-year basis. As a group, analysts anticipate that Broadcom Inc. will post 37.19 EPS for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 24th were given a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Monday, June 24th. Broadcom’s dividend payout ratio (DPR) is 90.32%.

Insider Buying and Selling at Broadcom

In other news, Director Justine Page sold 254 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $1,750.26, for a total transaction of $444,566.04. Following the completion of the transaction, the director now directly owns 2,748 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 can be accessed through the SEC website. In other Broadcom news, Director Justine Page sold 254 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $1,750.26, for a total transaction of $444,566.04. Following the completion of the sale, the director now directly owns 2,748 shares in the company, valued at approximately $4,809,714.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the transaction, the chief executive officer now owns 168,096 shares in the company, valued at approximately $220,583,976. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,364 shares of company stock worth $13,953,966. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Broadcom

Several institutional investors and hedge funds have recently bought and sold shares of AVGO. Bamco Inc. NY increased its stake in shares of Broadcom by 32.1% in the third quarter. Bamco Inc. NY now owns 173 shares of the semiconductor manufacturer’s stock worth $144,000 after purchasing an additional 42 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its holdings in Broadcom by 653.4% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 23,982 shares of the semiconductor manufacturer’s stock worth $19,919,000 after purchasing an additional 20,799 shares in the last quarter. Waverly Advisors LLC boosted its stake in Broadcom by 8.0% in the 3rd quarter. Waverly Advisors LLC now owns 1,126 shares of the semiconductor manufacturer’s stock worth $935,000 after purchasing an additional 83 shares during the period. Per Stirling Capital Management LLC. raised its position in shares of Broadcom by 5.8% during the third quarter. Per Stirling Capital Management LLC. now owns 549 shares of the semiconductor manufacturer’s stock valued at $456,000 after buying an additional 30 shares during the last quarter. Finally, Troluce Capital Advisors LLC bought a new stake in shares of Broadcom during the third quarter valued at approximately $4,451,000. 76.43% of the stock is currently owned by hedge funds and other 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.