Broadcom (NASDAQ:AVGO) Stock Price Up 0.3%

Broadcom Inc. (NASDAQ:AVGO) shares rose 0.3% on Thursday . The stock traded as high as $156.36 and last traded at $154.54. Approximately 5,988,369 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 30,940,967 shares. The stock had previously closed at $154.12.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of recent research reports. Wells Fargo & Company lifted their target price on Broadcom from $143.00 to $170.00 and gave the stock an “equal weight” rating in a report on Thursday, June 13th. Mizuho increased their target price on Broadcom from $162.50 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Rosenblatt Securities upped their price target on shares of Broadcom from $165.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Jefferies Financial Group lifted their price target on shares of Broadcom from $155.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Finally, Sanford C. Bernstein upped their price objective on Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $255.11.

Broadcom Stock Up 0.1 %

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 firm has a market capitalization of $718.06 billion, a PE ratio of 6.63, a P/E/G ratio of 2.87 and a beta of 1.16. The business’s 50 day moving average price is $190.06 and its 200-day moving average price is $155.59.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, June 12th. The semiconductor manufacturer reported $1.10 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 for the quarter, compared to analysts’ expectations of $12.06 billion. During the same period in the prior year, the firm earned $0.95 earnings per share. The firm’s revenue was up 43.0% compared to the same quarter last year. As a group, equities research analysts forecast that Broadcom Inc. will post 3.74 earnings per share for the current year.

Broadcom Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 24th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 1.36%. The ex-dividend date was Monday, June 24th. Broadcom’s dividend payout ratio is currently 9.03%.

Insider Activity

In related news, Director Justine Page sold 2,540 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justine Page sold 2,540 shares of Broadcom 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 transaction, the director now 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. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Lion Street Advisors LLC grew its stake in shares of Broadcom by 1.9% in the second quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock worth $520,000 after purchasing an additional 6 shares in the last quarter. Horizon Family Wealth Inc. boosted its position in shares of Broadcom by 1.3% in the 4th quarter. Horizon Family Wealth Inc. now owns 640 shares of the semiconductor manufacturer’s stock valued at $715,000 after purchasing an additional 8 shares during the period. Tucker Asset Management LLC increased its stake in Broadcom by 12.5% in the 4th quarter. Tucker Asset Management LLC now owns 72 shares of the semiconductor manufacturer’s stock worth $80,000 after purchasing an additional 8 shares in the last quarter. Buckley Wealth Management LLC raised its holdings in Broadcom by 0.7% during the 1st quarter. Buckley Wealth Management LLC now owns 1,153 shares of the semiconductor manufacturer’s stock worth $1,529,000 after buying an additional 8 shares during the period. Finally, Legend Financial Advisors Inc. lifted its stake in Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 8 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other 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.