Broadcom (NASDAQ:AVGO) Stock Price Up 1.7%

Broadcom Inc. (NASDAQ:AVGO) shares traded up 1.7% during trading on Friday . The stock traded as high as $1,270.00 and last traded at $1,259.93. 729,359 shares were traded during trading, a decline of 75% from the average session volume of 2,884,107 shares. The stock had previously closed at $1,238.57.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AVGO shares. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. UBS Group increased their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. The Goldman Sachs Group restated a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a report on Friday, January 19th. Benchmark reiterated a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a report on Thursday, March 21st. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Trading Up 3.2 %

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 firm has a market capitalization of $592.30 billion, a price-to-earnings ratio of 47.37, a P/E/G ratio of 2.52 and a beta of 1.25. The business has a 50-day moving average of $1,308.66 and a two-hundred day moving average of $1,147.78.

Broadcom (NASDAQ:AVGO) last announced 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. The firm had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period last year, the firm posted $9.83 EPS. Research analysts predict that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is currently 77.84%.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the completion of the transaction, the insider now owns 46,974 shares in the company, valued at approximately $61,957,296.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the sale, the insider now owns 46,974 shares of the company’s stock, valued at approximately $61,957,296.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the sale, the director now owns 45 shares of the company’s stock, valued at approximately $62,465.85. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 in the last three months. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Howland Capital Management LLC increased its stake in shares of Broadcom by 2.3% in the 1st quarter. Howland Capital Management LLC now owns 487 shares of the semiconductor manufacturer’s stock valued at $645,000 after buying an additional 11 shares during the period. SPC Financial Inc. increased its position in Broadcom by 3.8% in the first quarter. SPC Financial Inc. now owns 731 shares of the semiconductor manufacturer’s stock worth $969,000 after purchasing an additional 27 shares during the period. McClarren Financial Advisors Inc. raised its holdings in Broadcom by 2,606.1% during the 1st quarter. McClarren Financial Advisors Inc. now owns 1,326 shares of the semiconductor manufacturer’s stock worth $1,757,000 after purchasing an additional 1,277 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Broadcom by 52.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 8,063 shares of the semiconductor manufacturer’s stock valued at $10,687,000 after purchasing an additional 2,767 shares during the period. Finally, 9258 Wealth Management LLC boosted its stake in shares of Broadcom by 2.4% in the 1st quarter. 9258 Wealth Management LLC now owns 3,979 shares of the semiconductor manufacturer’s stock valued at $5,274,000 after purchasing an additional 95 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

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.