Broadcom (NASDAQ:AVGO) Trading Down 1.3% – What’s Next?

Broadcom Inc. (NASDAQ:AVGO)’s stock price was down 1.3% during mid-day trading on Thursday . The stock traded as low as $231.10 and last traded at $233.26. Approximately 5,160,654 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 28,355,289 shares. The stock had previously closed at $236.35.

Analysts Set New Price Targets

Several research analysts have issued reports on AVGO shares. JPMorgan Chase & Co. raised their target price on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Evercore ISI lifted their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Truist Financial boosted their price target on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Bank of America boosted their price target on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Mizuho boosted their price target on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Stock Down 1.2 %

The company has a market capitalization of $1.09 trillion, a PE ratio of 190.08, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm has a 50-day simple moving average of $226.16 and a 200 day simple moving average of $187.02.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period last year, the firm earned $0.98 earnings per share. On average, research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.01%. Broadcom’s payout ratio is currently 192.50%.

Insider Buying and Selling

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the sale, the director now directly owns 6,460 shares of the company’s stock, valued at $1,464,352.80. The trade was a 69.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

A number of large investors have recently bought and sold shares of the business. Pennington Partners & CO. LLC acquired a new position in Broadcom during the 4th quarter worth $714,000. South Plains Financial Inc. acquired a new position in shares of Broadcom during the fourth quarter valued at about $839,000. Keel Point LLC raised its position in shares of Broadcom by 18.9% during the fourth quarter. Keel Point LLC now owns 17,695 shares of the semiconductor manufacturer’s stock valued at $4,102,000 after buying an additional 2,808 shares during the last quarter. Peterson Wealth Management acquired a new position in shares of Broadcom during the fourth quarter valued at about $1,912,000. Finally, Sulzberger Capital Advisors Inc. acquired a new position in shares of Broadcom during the fourth quarter valued at about $1,618,000. 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.