Short Interest in Broadcom Inc. (NASDAQ:AVGO) Increases By 5.3%

Broadcom Inc. (NASDAQ:AVGOGet Free Report) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 5,530,000 shares, a growth of 5.3% from the February 29th total of 5,250,000 shares. Based on an average daily trading volume, of 3,020,000 shares, the short-interest ratio is presently 1.8 days.

Insider Buying and Selling

In related news, CFO Kirsten M. Spears sold 2,500 shares of Broadcom stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the completion of the sale, the chief financial officer now owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kirsten M. Spears sold 2,500 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the completion of the sale, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,310 shares of company stock valued at $29,405,117. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

Institutional investors have recently modified their holdings of the company. Cantor Fitzgerald Investment Advisor L.P boosted its stake in Broadcom by 94.4% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock worth $47,283,000 after acquiring an additional 36,458 shares in the last quarter. Fairfield Bush & CO. boosted its stake in Broadcom by 2.6% during the first quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock worth $3,114,000 after acquiring an additional 123 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Broadcom by 20.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock worth $320,887,000 after acquiring an additional 87,945 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in Broadcom by 1.1% during the first quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock worth $25,412,000 after acquiring an additional 420 shares in the last quarter. Finally, Ergoteles LLC bought a new position in Broadcom during the first quarter worth $1,095,000. 76.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AVGO. Cantor Fitzgerald boosted their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. UBS Group boosted their target price on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Susquehanna boosted their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Finally, Summit Insights upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Friday, December 8th. Three investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average price target of $1,230.18.

View Our Latest Stock Report on Broadcom

Broadcom Trading Down 0.9 %

AVGO opened at $1,338.76 on Wednesday. Broadcom has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The firm has a market capitalization of $620.41 billion, a price-to-earnings ratio of 48.49, a PEG ratio of 2.79 and a beta of 1.25. The company’s 50 day moving average price is $1,280.36 and its two-hundred day moving average price is $1,074.79.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same period in the prior year, the firm posted $9.83 EPS. The company’s quarterly revenue was up 34.2% on a year-over-year basis. As a group, research analysts predict that Broadcom will post 36.8 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

Broadcom Company Profile

(Get Free Report)

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.

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