Broadcom (NASDAQ:AVGO) Given New $215.00 Price Target at Barclays

Broadcom (NASDAQ:AVGO - Free Report) had its price target reduced by Barclays from $260.00 to $215.00 in a research note published on Tuesday, MarketBeat.com reports. They currently have an overweight rating on the semiconductor manufacturer's stock.

Several other research analysts have also weighed in on AVGO. Citigroup lowered their price objective on Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 target price on shares of Broadcom in a report on Friday, March 7th. Mizuho cut their price target on Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Benchmark reiterated a "buy" rating and issued a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Finally, Morgan Stanley boosted their target price on shares of Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $229.48.

Broadcom Trading Up 2.2 %

Shares of NASDAQ:AVGO traded up $4.16 during trading on Tuesday, reaching $192.31. The stock had a trading volume of 21,216,875 shares, compared to its average volume of 31,313,236. Broadcom has a 52 week low of $122.33 and a 52 week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm's fifty day moving average is $184.36 and its 200 day moving average is $196.02. The stock has a market cap of $904.23 billion, a price-to-earnings ratio of 156.86, a P/E/G ratio of 2.29 and a beta of 1.05.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were paid a $0.59 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.23%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Broadcom announced that its board has approved a share buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the transaction, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 719,776 shares of company stock valued at $131,065,542. 2.00% of the stock is owned by insiders.

Institutional Trading of Broadcom

Several hedge funds have recently made changes to their positions in the company. Mather Group LLC. grew its stake in shares of Broadcom by 6.6% during the 1st quarter. Mather Group LLC. now owns 50,737 shares of the semiconductor manufacturer's stock worth $8,495,000 after acquiring an additional 3,128 shares during the period. Alta Advisers Ltd boosted its position in Broadcom by 55.1% during the first quarter. Alta Advisers Ltd now owns 24,199 shares of the semiconductor manufacturer's stock worth $4,052,000 after purchasing an additional 8,600 shares during the period. Lodestar Private Asset Management LLC boosted its position in Broadcom by 24.7% during the first quarter. Lodestar Private Asset Management LLC now owns 1,415 shares of the semiconductor manufacturer's stock worth $237,000 after purchasing an additional 280 shares during the period. Cypress Capital LLC increased its stake in shares of Broadcom by 4.2% in the first quarter. Cypress Capital LLC now owns 13,368 shares of the semiconductor manufacturer's stock worth $2,238,000 after purchasing an additional 536 shares in the last quarter. Finally, Benchmark Financial Wealth Advisors LLC raised its position in shares of Broadcom by 6.2% in the first quarter. Benchmark Financial Wealth Advisors LLC now owns 6,788 shares of the semiconductor manufacturer's stock valued at $1,136,000 after purchasing an additional 397 shares during the period. 76.43% of the stock is currently owned by 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.