Broadcom (NASDAQ:AVGO) Stock Price Down 0.2% – Time to Sell?

Broadcom Inc. (NASDAQ:AVGO) was down 0.2% during trading on Friday . The stock traded as low as $229.00 and last traded at $231.43. Approximately 7,841,272 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 19,227,590 shares. The stock had previously closed at $231.98.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and set a $255.00 target price (up from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft increased their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Robert W. Baird boosted their target price on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Piper Sandler increased their price target on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Finally, Morgan Stanley boosted their price objective on Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $221.88.

Broadcom Stock Performance

The company has a market cap of $1.09 trillion, a PE ratio of 202.04, a PEG ratio of 2.15 and a beta of 1.13. The stock has a 50 day simple moving average of $191.27 and a two-hundred day simple moving average of $173.87. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. Broadcom’s revenue for the quarter was up 51.2% on a year-over-year basis. Equities analysts predict that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.01%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

Insider Activity at Broadcom

In other news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the sale, the insider now owns 737,330 shares of the company’s stock, valued at $133,781,155.20. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the transaction, the insider now directly owns 399,460 shares of the company’s stock, valued at $70,744,366. This represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 154,408 shares of company stock worth $33,412,228 in the last quarter. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Broadcom

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVGO. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Broadcom in the second quarter valued at approximately $128,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Broadcom during the 2nd quarter worth $136,000. WPWealth LLP purchased a new position in shares of Broadcom in the 2nd quarter valued at about $204,000. Harrington Investments INC acquired a new stake in shares of Broadcom in the second quarter valued at about $207,000. Finally, AIMZ Investment Advisors LLC acquired a new stake in shares of Broadcom in the second quarter valued at about $207,000. 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.