Broadcom (NASDAQ:AVGO) Stock Price Down 1.1%

Broadcom Inc. (NASDAQ:AVGO) traded down 1.1% during trading on Thursday . The company traded as low as $145.52 and last traded at $149.72. 10,833,821 shares changed hands during trading, a decline of 66% from the average session volume of 32,136,973 shares. The stock had previously closed at $151.34.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays raised their price target on shares of Broadcom from $150.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, June 13th. Bank of America reaffirmed a “buy” rating and set a $215.00 price target (up from $200.00) on shares of Broadcom in a research note on Monday, June 24th. The Goldman Sachs Group boosted their price target on Broadcom from $155.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. UBS Group increased their price objective on Broadcom from $161.00 to $173.50 and gave the stock a “buy” rating in a report on Thursday, June 13th. Finally, Melius began coverage on shares of Broadcom in a research note on Monday, June 3rd. They issued a “buy” rating and a $185.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $183.11.

Broadcom Trading Down 0.8 %

The company has a debt-to-equity ratio of 1.02, a current ratio of 1.25 and a quick ratio of 1.16. The company has a market capitalization of $711.36 billion, a price-to-earnings ratio of 6.63, a price-to-earnings-growth ratio of 2.87 and a beta of 1.16. The business has a fifty day moving average price of $190.06 and a 200 day moving average price of $155.59.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 24.10% and a return on equity of 35.82%. 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 company earned $0.95 EPS. The business’s quarterly revenue was up 47.3% compared to the same quarter last year. On average, equities analysts expect that Broadcom Inc. will post 3.74 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 19th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.39%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 9.03%.

Insider Activity at Broadcom

In other Broadcom news, Director Justine Page sold 2,540 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $175.03, for a total value of $444,566.04. Following the completion of the sale, the director now owns 27,480 shares in the company, valued at approximately $4,809,714.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the sale, the chief executive officer now directly owns 138,191 shares in the company, valued at approximately $235,746,936.45. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Justine Page sold 2,540 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the transaction, the director now directly owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Broadcom by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after purchasing an additional 1,303,462 shares in the last quarter. Capital International Investors grew its stake in Broadcom by 4.5% during the fourth quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer’s stock worth $26,044,294,000 after buying an additional 1,006,223 shares during the last quarter. Norges Bank bought a new stake in Broadcom during the fourth quarter worth about $6,225,987,000. Northern Trust Corp increased its holdings in shares of Broadcom by 3.7% during the fourth quarter. Northern Trust Corp now owns 4,825,465 shares of the semiconductor manufacturer’s stock worth $5,386,425,000 after buying an additional 170,063 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Broadcom by 43.9% in the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock valued at $5,488,556,000 after acquiring an additional 1,263,957 shares during the last quarter. 76.43% of the stock is currently owned by 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.