Broadcom (NASDAQ:AVGO) Stock Price Down 2.6% – Should You Sell?

Shares of Broadcom Inc. (NASDAQ:AVGO) traded down 2.6% during trading on Tuesday . The company traded as low as $188.45 and last traded at $189.51. 7,350,477 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 29,037,746 shares. The stock had previously closed at $194.50.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AVGO. TD Cowen upped their price target on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Robert W. Baird raised their target price on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Susquehanna lifted their price target on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Evercore ISI increased their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Benchmark reaffirmed a “buy” rating and set a $255.00 target price on shares of Broadcom in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Stock Down 2.6 %

The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $891.10 billion, a PE ratio of 154.21, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The business has a 50-day moving average price of $217.28 and a 200-day moving average price of $194.43.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.25%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

Insider Transactions at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kirsten M. Spears sold 12,570 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the completion of the sale, the chief financial officer now directly owns 325,443 shares of the company’s stock, valued at approximately $74,728,221.66. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 184,738 shares of company stock worth $43,395,200 in the last quarter. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Broadcom

A number of hedge funds and other institutional investors have recently bought and sold shares of AVGO. Canton Hathaway LLC acquired a new stake in Broadcom during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom during the fourth quarter worth about $26,000. Sunbeam Capital Management LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $28,000. Vermillion Wealth Management Inc. purchased a new position in Broadcom in the fourth quarter worth approximately $30,000. Finally, Sellwood Investment Partners LLC acquired a new position in Broadcom during the 4th quarter worth approximately $32,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

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.