Broadcom (NASDAQ:AVGO) Trading 3.9% Higher

Broadcom Inc. (NASDAQ:AVGO) shot up 3.9% during trading on Friday . The stock traded as high as $1,355.83 and last traded at $1,345.21. 877,998 shares were traded during trading, a decline of 70% from the average session volume of 2,916,094 shares. The stock had previously closed at $1,294.42.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AVGO shares. Evercore ISI began coverage on shares of Broadcom in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 target price on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a report on Monday, April 8th. Benchmark reissued a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Oppenheimer reaffirmed an “outperform” rating and set a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Finally, Cantor Fitzgerald raised their price target on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Trading Up 3.8 %

The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The stock’s 50 day moving average is $1,306.70 and its two-hundred day moving average is $1,135.99. The company has a market capitalization of $622.87 billion, a PE ratio of 49.82, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s revenue was up 34.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $9.83 EPS. As a group, sell-side analysts predict that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.56%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Transactions at Broadcom

In related news, Director Justine Page sold 110 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now owns 3,125 shares of the company’s stock, valued at $4,134,375. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Justine Page sold 110 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the transaction, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction 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 $5,991,048.62. The disclosure for this sale can be found here. In the last three months, insiders sold 29,920 shares of company stock valued at $40,306,667. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Horizon Family Wealth Inc. boosted its holdings in Broadcom by 1.3% in the fourth quarter. Horizon Family Wealth Inc. now owns 640 shares of the semiconductor manufacturer’s stock worth $715,000 after acquiring an additional 8 shares in the last quarter. Tucker Asset Management LLC raised its position in shares of Broadcom by 12.5% in the 4th quarter. Tucker Asset Management LLC now owns 72 shares of the semiconductor manufacturer’s stock valued at $80,000 after purchasing an additional 8 shares during the last quarter. Buckley Wealth Management LLC boosted its stake in Broadcom by 0.7% in the 1st quarter. Buckley Wealth Management LLC now owns 1,153 shares of the semiconductor manufacturer’s stock worth $1,529,000 after purchasing an additional 8 shares in the last quarter. Legend Financial Advisors Inc. grew its position in Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 8 shares during the last quarter. Finally, BetterWealth LLC grew its position in Broadcom by 1.5% during the 4th quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock worth $672,000 after purchasing an additional 9 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

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.