Broadcom (NASDAQ:AVGO) Trading Up 0.3%

Shares of Broadcom Inc. (NASDAQ:AVGO) were up 0.3% on Monday . The company traded as high as $1,617.34 and last traded at $1,610.65. Approximately 1,435,681 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 3,171,401 shares. The stock had previously closed at $1,605.53.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AVGO. Jefferies Financial Group boosted their target price on shares of Broadcom from $1,550.00 to $2,050.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research report on Monday, April 8th. TD Cowen increased their price objective on Broadcom from $1,500.00 to $1,750.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Bank of America reaffirmed a “buy” rating and set a $2,150.00 target price (up from $2,000.00) on shares of Broadcom in a research report on Monday, June 24th. Finally, Barclays increased their price target on Broadcom from $1,500.00 to $2,000.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. Three equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,673.04.

Broadcom Price Performance

The stock has a 50 day moving average of $1,442.03 and a 200-day moving average of $1,309.21. 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 has a market cap of $771.54 billion, a PE ratio of 71.29, a price-to-earnings-growth ratio of 2.79 and a beta of 1.17.

Broadcom’s stock is scheduled 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 distributed to shareholders after the market closes on Friday, July 12th.

Broadcom (NASDAQ:AVGO) last released 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. The firm had revenue of $12.49 billion for the quarter, compared to analyst estimates of $12.06 billion. Broadcom had a net margin of 24.10% and a return on equity of 35.82%. The business’s quarterly revenue was up 43.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.51 earnings per share. Equities analysts predict that Broadcom Inc. will post 37.19 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 24th were issued a $5.25 dividend. The ex-dividend date was Monday, June 24th. This represents a $21.00 annualized dividend and a dividend yield of 1.27%. Broadcom’s dividend payout ratio (DPR) is presently 90.32%.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 254 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $1,750.26, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the sale, the insider now directly owns 41,974 shares in the company, valued at approximately $55,257,092.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Justine Page sold 254 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $1,750.26, for a total value 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 approximately $4,809,714.48. The disclosure for this sale can be found here. Insiders have sold a total of 5,864 shares of company stock valued at $7,910,666 over the last ninety days. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Legend Financial Advisors Inc. grew its position in shares of Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 8 shares during the period. Stuart Chaussee & Associates Inc. acquired a new stake in Broadcom in the 4th quarter worth about $25,000. Richardson Capital Management LLC purchased a new stake in Broadcom during the 1st quarter worth approximately $29,000. Delta Asset Management LLC TN raised its holdings in shares of Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 17 shares during the last quarter. Finally, PSI Advisors LLC lifted its position in shares of Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 10 shares in the last quarter. 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.