Broadcom Inc. (NASDAQ:AVGO - Get Free Report)'s share price hit a new 52-week high on Tuesday . The stock traded as high as $265.87 and last traded at $263.12, with a volume of 8527376 shares trading hands. The stock had previously closed at $253.77.
Analyst Upgrades and Downgrades
AVGO has been the subject of several recent research reports. Evercore ISI reissued an "outperform" rating and issued a $304.00 price target (up previously from $267.00) on shares of Broadcom in a research report on Friday, June 6th. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Mizuho increased their target price on Broadcom from $300.00 to $310.00 and gave the stock an "outperform" rating in a report on Friday, June 6th. HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target on the stock in a research note on Tuesday. Finally, Cowen reiterated a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Two analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $281.25.
View Our Latest Report on AVGO
Broadcom Trading Down 0.2%
The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The company has a market cap of $1.27 trillion, a P/E ratio of 101.06, a P/E/G ratio of 1.88 and a beta of 1.11. The business has a 50-day moving average price of $227.46 and a two-hundred day moving average price of $214.61.
Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.01. The firm had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The company's quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the business posted $10.96 EPS. On average, analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.
Broadcom Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be paid a $0.59 dividend. The ex-dividend date is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.88%. Broadcom's payout ratio is presently 88.39%.
Broadcom announced that its Board of Directors has approved a stock repurchase plan on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.
Insider Buying and Selling at Broadcom
In related news, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the sale, the insider now directly owns 465,956 shares in the company, valued at $83,872,080. This trade represents a 5.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Justine Page sold 800 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the transaction, the director now owns 25,380 shares of the company's stock, valued at approximately $4,695,300. This represents a 3.06% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 337,818 shares of company stock worth $84,167,415. Insiders own 2.00% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barnes Dennig Private Wealth Management LLC acquired a new stake in Broadcom during the 1st quarter worth approximately $25,000. Cheviot Value Management LLC bought a new stake in shares of Broadcom during the first quarter worth $25,000. Canton Hathaway LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom in the 4th quarter valued at $26,000. Finally, Inlight Wealth Management LLC acquired a new position in Broadcom in the 1st quarter worth $26,000. 76.43% of the stock is currently owned by institutional investors.
About Broadcom
(
Get Free Report)
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.
Read More
Before you consider Broadcom, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Broadcom wasn't on the list.
While Broadcom currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.