Broadcom Inc. (NASDAQ:AVGO) Short Interest Update

Broadcom Inc. (NASDAQ:AVGO) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totalling 5,830,000 shares, an increase of 6.4% from the March 31st total of 5,480,000 shares. Based on an average daily volume of 2,960,000 shares, the days-to-cover ratio is currently 2.0 days.

Broadcom Stock Down 4.4 %

Shares of AVGO stock opened at $1,242.86 on Thursday. Broadcom has a 1 year low of $601.29 and a 1 year high of $1,438.17. The stock has a market cap of $575.97 billion, a PE ratio of 46.07, a price-to-earnings-growth ratio of 2.72 and a beta of 1.25. The business’s fifty day moving average is $1,310.35 and its 200-day moving average is $1,144.51. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

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

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Justine Page sold 110 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Broadcom news, Director Justine Page sold 110 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock worth $40,306,667 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Broadcom

Hedge funds have recently modified their holdings of the stock. Stuart Chaussee & Associates Inc. acquired a new position in shares of Broadcom in the 4th quarter worth $25,000. Legend Financial Advisors Inc. grew its holdings in shares of Broadcom by 72.7% in the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 8 shares during the last quarter. PSI Advisors LLC grew its holdings in shares of Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after acquiring an additional 10 shares during the last quarter. Macroview Investment Management LLC acquired a new position in shares of Broadcom in the 3rd quarter worth $29,000. Finally, BKM Wealth Management LLC acquired a new position in shares of Broadcom in the 4th quarter worth $29,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on AVGO shares. 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 report on Friday, March 1st. 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 report on Monday, March 4th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a report on Thursday, March 21st. Susquehanna raised their price target on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Finally, Barclays raised their price target on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,285.41.

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.