Broadcom (NASDAQ:AVGO) Shares Up 0.3%

Broadcom Inc. (NASDAQ:AVGO) shares were up 0.3% on Monday . The stock traded as high as $1,617.34 and last traded at $1,610.65. Approximately 1,435,681 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 3,171,401 shares. The stock had previously closed at $1,605.53.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AVGO. Wells Fargo & Company upped their price target on shares of Broadcom from $1,430.00 to $1,700.00 and gave the company an “equal weight” rating in a research note on Thursday, June 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research report on Monday, April 8th. Sanford C. Bernstein raised their price objective on Broadcom from $1,600.00 to $1,950.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Melius Research initiated coverage on Broadcom in a report on Monday, June 3rd. They set a “buy” rating and a $1,850.00 price target on the stock. Finally, Oppenheimer boosted their price objective on shares of Broadcom from $1,500.00 to $2,000.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. Three research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,673.04.

Broadcom Price Performance

The stock has a 50 day moving average of $1,433.70 and a 200-day moving average of $1,305.45. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.16 and a current ratio of 1.25. The company has a market cap of $761.02 billion, a PE ratio of 69.28, a price-to-earnings-growth ratio of 2.79 and a beta of 1.17.

Broadcom’s stock is scheduled to split on the morning of Monday, July 15th. The 10-1 split was announced on Wednesday, June 12th. The newly minted shares will be issued to shareholders after the closing bell on Friday, July 12th.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, June 12th. The semiconductor manufacturer reported $10.96 earnings per share for the quarter, beating analysts’ consensus estimates of $10.78 by $0.18. Broadcom had a net margin of 24.10% and a return on equity of 35.82%. The company had revenue of $12.49 billion during the quarter, compared to analysts’ expectations of $12.06 billion. During the same quarter in the previous year, the company earned $9.51 earnings per share. The firm’s revenue for the quarter was up 43.0% on a year-over-year basis. Equities analysts predict that Broadcom Inc. will post 37.19 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 24th were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.28%. The ex-dividend date was Monday, June 24th. Broadcom’s payout ratio is currently 90.32%.

Insider Activity

In other news, CFO Kirsten M. Spears sold 3,000 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $1,343.14, for a total transaction of $4,029,420.00. Following the completion of the sale, the chief financial officer now owns 43,459 shares of the company’s stock, valued at $58,371,521.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Broadcom news, Director Justine Page sold 254 shares of Broadcom stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $1,750.26, for a total transaction of $444,566.04. Following the sale, the director now owns 2,748 shares of the company’s stock, valued at approximately $4,809,714.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kirsten M. Spears sold 3,000 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $1,343.14, for a total transaction of $4,029,420.00. Following the completion of the sale, the chief financial officer now owns 43,459 shares of the company’s stock, valued at $58,371,521.26. The disclosure for this sale can be found here. Insiders sold 10,364 shares of company stock worth $13,953,966 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Broadcom

A number of hedge funds have recently bought and sold shares of the business. Pathway Financial Advisors LLC grew its holdings in Broadcom by 11.1% in the 4th quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock valued at $1,041,000 after buying an additional 93 shares in the last quarter. Todd Asset Management LLC increased its position in Broadcom by 26.3% during the fourth quarter. Todd Asset Management LLC now owns 79,765 shares of the semiconductor manufacturer’s stock worth $89,038,000 after purchasing an additional 16,608 shares during the last quarter. Benjamin Edwards Inc. raised its stake in Broadcom by 3.0% during the fourth quarter. Benjamin Edwards Inc. now owns 3,141 shares of the semiconductor manufacturer’s stock worth $3,506,000 after purchasing an additional 91 shares during the period. Barry Investment Advisors LLC purchased a new position in Broadcom during the fourth quarter worth about $228,000. Finally, Stegent Equity Advisors Inc. acquired a new position in Broadcom in the 4th quarter valued at about $271,000. Institutional investors and hedge funds 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.