Broadcom Inc. (NASDAQ:AVGO - Get Free Report) dropped 3.7% during trading on Friday . The stock traded as low as $363.83 and last traded at $365.02. 33,431,265 shares changed hands during mid-day trading, an increase of 26% from the average daily volume of 26,495,498 shares. The stock had previously closed at $378.91.
Analysts Set New Price Targets
A number of research analysts recently weighed in on AVGO shares. TD Cowen reaffirmed a "buy" rating and issued a $500.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Oppenheimer reissued an "outperform" rating and set a $535.00 price target (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. Wells Fargo & Company restated an "overweight" rating and issued a $545.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. DA Davidson lifted their target price on Broadcom from $375.00 to $400.00 and gave the company a "neutral" rating in a research report on Thursday, June 4th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $500.00 target price on shares of Broadcom in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus target price of $493.24.
Check Out Our Latest Analysis on AVGO
Broadcom Stock Performance
The company has a market cap of $1.74 trillion, a P/E ratio of 60.84, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41. The stock has a 50 day moving average price of $412.34 and a two-hundred day moving average price of $363.34. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71.
Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.04. The business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm's quarterly revenue was up 47.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.58 EPS. On average, research analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.
Broadcom Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom's dividend payout ratio (DPR) is currently 43.33%.
Insider Buying and Selling
In related news, insider Charlie B. Kawwas sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total value of $3,452,300.00. Following the completion of the sale, the insider directly owned 787,184 shares in the company, valued at approximately $271,759,532.32. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Harry L. You bought 1,000 shares of Broadcom stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the acquisition, the director owned 38,466 shares in the company, valued at $14,369,743.62. This represents a 2.67% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 59,385 shares of company stock valued at $21,301,057 in the last quarter. Corporate insiders own 1.90% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. ROSS JOHNSON & Associates LLC grew its stake in shares of Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock worth $25,000 after buying an additional 66 shares during the last quarter. Networth Advisors LLC grew its position in Broadcom by 546.2% during the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock worth $26,000 after acquiring an additional 71 shares during the last quarter. SWAN Capital LLC increased its holdings in Broadcom by 261.9% in the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Miller Global Investments LLC bought a new position in Broadcom in the fourth quarter valued at about $31,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in shares of Broadcom during the fourth quarter valued at about $33,000. Institutional investors own 76.43% of the company's stock.
About Broadcom
(
Get Free Report)
Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company's semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.
On the semiconductor side, Broadcom's portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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 Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.
Get This Free Report
