Broadcom (NASDAQ:AVGO) Stock Price Down 2.2% – Time to Sell?

Broadcom Inc. (NASDAQ:AVGO) traded down 2.2% during trading on Friday . The company traded as low as $166.32 and last traded at $166.60. 4,476,092 shares were traded during trading, a decline of 85% from the average session volume of 29,452,346 shares. The stock had previously closed at $170.38.

Analysts Set New Price Targets

A number of research firms recently issued reports on AVGO. The Goldman Sachs Group boosted their target price on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. UBS Group boosted their price objective on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Benchmark reiterated a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. Rosenblatt Securities reduced their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Finally, Morgan Stanley lifted their price target on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $192.79.

Broadcom Stock Down 3.3 %

The company has a fifty day simple moving average of $172.84 and a 200 day simple moving average of $159.35. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $769.90 billion, a P/E ratio of 143.34, a P/E/G ratio of 2.04 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter last year, the business earned $0.95 EPS. The business’s revenue was up 47.3% on a year-over-year basis. On average, equities analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.29%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 184.35%.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction on 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 owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. The trade was a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 in the last 90 days. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

A number of large investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in shares of Broadcom by 976.6% during the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock worth $17,055,760,000 after purchasing an additional 89,975,941 shares during the period. Foyston Gordon & Payne Inc raised its holdings in shares of Broadcom by 791.2% in the 3rd quarter. Foyston Gordon & Payne Inc now owns 98,527 shares of the semiconductor manufacturer’s stock worth $16,996,000 after purchasing an additional 87,471 shares in the last quarter. MidWestOne Financial Group Inc. lifted its holdings in shares of Broadcom by 942.8% during the third quarter. MidWestOne Financial Group Inc. now owns 29,396 shares of the semiconductor manufacturer’s stock valued at $5,071,000 after purchasing an additional 26,577 shares during the last quarter. Insight Inv LLC grew its position in Broadcom by 900.0% during the 3rd quarter. Insight Inv LLC now owns 1,950 shares of the semiconductor manufacturer’s stock worth $336,000 after purchasing an additional 1,755 shares in the last quarter. Finally, Savoie Capital LLC increased its holdings in shares of Broadcom by 900.0% in the 3rd quarter. Savoie Capital LLC now owns 79,290 shares of the semiconductor manufacturer’s stock valued at $13,678,000 after purchasing an additional 71,361 shares during the period. 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.