Broadcom (NASDAQ:AVGO) Trading Up 0.2% – What’s Next?

Broadcom Inc. (NASDAQ:AVGO)’s stock price rose 0.2% during trading on Thursday . The company traded as high as $166.34 and last traded at $163.50. Approximately 6,678,341 shares traded hands during trading, a decline of 77% from the average daily volume of 29,265,527 shares. The stock had previously closed at $163.25.

Wall Street Analyst Weigh In

AVGO has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price objective on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. William Blair started coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. The Goldman Sachs Group raised their target price on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. UBS Group boosted their price target on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Cantor Fitzgerald raised their price objective on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $192.79.

Broadcom Stock Up 0.2 %

The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The firm’s 50-day moving average price is $173.70 and its two-hundred day moving average price is $160.62. The firm has a market cap of $767.05 billion, a PE ratio of 142.68, a P/E/G ratio of 1.94 and a beta of 1.17.

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

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a dividend of $0.53 per share. 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 boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 184.19%.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares in the company, valued at $69,596,812.80. This represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. This trade represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Broadcom

Large investors have recently bought and sold shares of the company. Clear Point Advisors Inc. lifted its position in Broadcom by 310.0% in the first quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer’s stock valued at $54,000 after purchasing an additional 31 shares during the period. Indiana Trust & Investment Management CO boosted its stake in shares of Broadcom by 39.5% in the second quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer’s stock valued at $85,000 after buying an additional 15 shares in the last quarter. Creekmur Asset Management LLC raised its position in Broadcom by 89.7% in the first quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer’s stock worth $98,000 after acquiring an additional 35 shares in the last quarter. Kiely Wealth Advisory Group Inc. acquired a new stake in Broadcom in the second quarter valued at $128,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Broadcom during the 2nd quarter worth $136,000. Hedge funds and other institutional investors 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.