Broadcom (NASDAQ:AVGO) Trading Up 1.6%

Broadcom Inc. (NASDAQ:AVGO)’s share price shot up 1.6% during mid-day trading on Thursday . The stock traded as high as $172.42 and last traded at $168.47. 8,479,498 shares changed hands during trading, a decline of 73% from the average session volume of 31,391,822 shares. The stock had previously closed at $165.78.

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent analyst reports. Citigroup reiterated a “buy” rating and issued a $156.00 target price on shares of Broadcom in a report on Tuesday, June 11th. Evercore ISI raised their target price on Broadcom from $162.00 to $201.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. Melius began coverage on Broadcom in a research report on Monday, June 3rd. They issued a “buy” rating and a $185.00 target price on the stock. Barclays increased their price target on Broadcom from $150.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, June 13th. Finally, Wells Fargo & Company boosted their price objective on shares of Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, June 13th. Two research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $240.08.

Broadcom Trading Up 1.4 %

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’s 50-day moving average price is $192.13 and its 200-day moving average price is $153.21. The firm has a market capitalization of $782.67 billion, a PE ratio of 7.25, a PEG ratio of 2.59 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, June 12th. The semiconductor manufacturer reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. Broadcom had a return on equity of 35.82% and a net margin of 24.10%. The company had revenue of $12.49 billion during the quarter, compared to the consensus estimate of $12.06 billion. During the same period in the previous year, the business earned $0.95 EPS. Broadcom’s revenue for the quarter was up 43.0% on a year-over-year basis. On average, sell-side analysts expect that Broadcom Inc. will post 3.74 earnings per share for the current year.

Broadcom Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 24th were paid a $0.525 dividend. The ex-dividend date was Monday, June 24th. This represents a $2.10 annualized dividend and a yield of 1.25%. Broadcom’s dividend payout ratio is currently 9.03%.

Insider Transactions at Broadcom

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

Institutional Trading of Broadcom

A number of large investors have recently bought and sold shares of the business. Todd Asset Management LLC increased its position in Broadcom by 26.3% in the 4th quarter. Todd Asset Management LLC now owns 79,765 shares of the semiconductor manufacturer’s stock valued at $89,038,000 after acquiring an additional 16,608 shares during the period. Benjamin Edwards Inc. increased its holdings in shares of Broadcom by 3.0% in the fourth quarter. Benjamin Edwards Inc. now owns 3,141 shares of the semiconductor manufacturer’s stock valued at $3,506,000 after purchasing an additional 91 shares during the period. Barry Investment Advisors LLC purchased a new stake in shares of Broadcom during the fourth quarter worth approximately $228,000. Stegent Equity Advisors Inc. acquired a new stake in shares of Broadcom during the fourth quarter worth $271,000. Finally, Intrust Bank NA grew its position in Broadcom by 1.7% in the 4th quarter. Intrust Bank NA now owns 6,070 shares of the semiconductor manufacturer’s stock valued at $6,776,000 after buying an additional 99 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.