Broadcom (NASDAQ:AVGO) Trading Up 0.1%

Broadcom Inc. (NASDAQ:AVGO) shot up 0.1% during trading on Tuesday . The stock traded as high as $160.28 and last traded at $159.75. 6,168,793 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 31,210,697 shares. The stock had previously closed at $159.62.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, June 13th. Jefferies Financial Group lifted their price objective on Broadcom from $155.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. TD Cowen raised their price target on Broadcom from $175.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Oppenheimer decreased their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Finally, Rosenblatt Securities raised their target price on shares of Broadcom from $165.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $240.08.

Broadcom Trading Down 2.0 %

The company has a debt-to-equity ratio of 1.02, a current ratio of 1.25 and a quick ratio of 1.16. The business’s 50-day simple moving average is $191.03 and its two-hundred day simple moving average is $154.44. The stock has a market capitalization of $736.31 billion, a price-to-earnings ratio of 6.80, a PEG ratio of 2.59 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, June 12th. The semiconductor manufacturer reported $1.10 EPS for the quarter, beating the consensus estimate of $1.08 by $0.02. Broadcom had a return on equity of 35.82% and a net margin of 24.10%. The business had revenue of $12.49 billion for the quarter, compared to the consensus estimate of $12.06 billion. During the same period last year, the business posted $0.95 EPS. The company’s revenue was up 43.0% on a year-over-year basis. On average, research analysts anticipate that Broadcom Inc. will post 3.74 earnings per share for the current fiscal year.

Broadcom Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 24th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 24th. This represents a $2.10 dividend on an annualized basis and a yield of 1.33%. Broadcom’s dividend payout ratio (DPR) is presently 9.03%.

Insider Buying and Selling at Broadcom

In related news, Director Justine Page sold 2,540 shares of Broadcom stock in a transaction on Thursday, June 20th. The shares were 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 owns 27,480 shares in the company, valued at $4,809,714.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Justine Page sold 2,540 shares of the stock in a transaction dated 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 owns 27,480 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 accessible through the SEC website. Also, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the sale, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Broadcom

A number of institutional investors and hedge funds have recently modified their holdings of the business. Todd Asset Management LLC raised its stake in Broadcom by 26.3% during the fourth quarter. Todd Asset Management LLC now owns 79,765 shares of the semiconductor manufacturer’s stock worth $89,038,000 after acquiring an additional 16,608 shares during the period. Benjamin Edwards Inc. lifted its holdings in shares of Broadcom by 3.0% in the 4th quarter. Benjamin Edwards Inc. now owns 3,141 shares of the semiconductor manufacturer’s stock worth $3,506,000 after purchasing an additional 91 shares during the last quarter. Barry Investment Advisors LLC acquired a new position in Broadcom during the 4th quarter valued at approximately $228,000. Vise Technologies Inc. grew its stake in Broadcom by 49.9% during the 4th quarter. Vise Technologies Inc. now owns 2,901 shares of the semiconductor manufacturer’s stock worth $3,238,000 after buying an additional 966 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Broadcom by 1.8% in the fourth quarter. International Assets Investment Management LLC now owns 2,981 shares of the semiconductor manufacturer’s stock valued at $3,327,000 after buying an additional 52 shares during 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.