Broadcom (NASDAQ:AVGO) Stock Price Up 0.5%

Broadcom Inc. (NASDAQ:AVGO) was up 0.5% during trading on Wednesday . The company traded as high as $164.51 and last traded at $163.32. Approximately 3,065,348 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 31,282,260 shares. The stock had previously closed at $162.47.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Truist Financial increased their target price on shares of Broadcom from $156.60 to $204.50 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Benchmark reiterated a “buy” rating and issued a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. JPMorgan Chase & Co. boosted their target price on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Bank of America reiterated a “buy” rating and issued a $215.00 price objective (up previously from $200.00) on shares of Broadcom in a report on Monday, June 24th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $189.23.

Broadcom Stock Up 0.5 %

The firm has a 50-day moving average price of $157.17 and a two-hundred day moving average price of $146.21. The firm has a market cap of $760.14 billion, a price-to-earnings ratio of 7.02, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter last year, the company earned $0.95 earnings per share. On average, sell-side analysts forecast that Broadcom Inc. will post 3.77 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.30%. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Insider Activity at Broadcom

In other Broadcom news, Director Justine Page sold 2,540 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Justine Page sold 2,540 shares of the firm’s 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 approximately $4,809,714.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the transaction, the chief executive officer now directly owns 138,191 shares in the company, valued at approximately $235,746,936.45. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Institutional Trading of Broadcom

A number of institutional investors have recently added to or reduced their stakes in AVGO. Vanguard Group Inc. grew its holdings in shares of Broadcom by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after acquiring an additional 1,303,462 shares during the period. Capital International Investors grew its holdings in Broadcom by 4.5% in the fourth quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer’s stock valued at $26,044,294,000 after purchasing an additional 1,006,223 shares during the last quarter. Northern Trust Corp grew its holdings in Broadcom by 3.7% in the fourth quarter. Northern Trust Corp now owns 4,825,465 shares of the semiconductor manufacturer’s stock valued at $5,386,425,000 after purchasing an additional 170,063 shares during the last quarter. Jennison Associates LLC increased its position in shares of Broadcom by 43.9% in the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock valued at $5,488,556,000 after buying an additional 1,263,957 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Broadcom by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 3,963,063 shares of the semiconductor manufacturer’s stock worth $6,362,816,000 after buying an additional 83,846 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

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.