Broadcom (NASDAQ:AVGO) Shares Up 0.1% - Should You Buy?

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) shares rose 0.1% on Wednesday . The company traded as high as $233.50 and last traded at $232.74. Approximately 7,225,568 shares were traded during trading, a decline of 77% from the average daily volume of 31,185,986 shares. The stock had previously closed at $232.42.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of research reports. Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a research report on Friday, March 7th. Barclays reduced their price target on Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. 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. Finally, Mizuho dropped their target price on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $229.48.

Broadcom Price Performance

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 business's 50 day moving average price is $186.31 and its 200 day moving average price is $198.91. The stock has a market capitalization of $1.07 trillion, a P/E ratio of 185.75, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Broadcom declared that its board has authorized a stock repurchase plan on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the business's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the completion of the sale, the insider now directly owns 465,956 shares in the company, valued at $83,872,080. The trade was a 5.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Justine Page sold 800 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the completion of the transaction, the director now owns 25,380 shares in the company, valued at $4,695,300. This trade represents a 3.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 719,776 shares of company stock valued at $131,065,542 in the last ninety days. 2.00% of the stock is currently owned by company insiders.

Institutional Trading of Broadcom

Large investors have recently added to or reduced their stakes in the business. Regent Peak Wealth Advisors LLC lifted its position in shares of Broadcom by 3.0% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 13,309 shares of the semiconductor manufacturer's stock valued at $3,086,000 after buying an additional 386 shares in the last quarter. RMR Wealth Builders lifted its holdings in Broadcom by 1.0% during the fourth quarter. RMR Wealth Builders now owns 70,370 shares of the semiconductor manufacturer's stock valued at $16,315,000 after purchasing an additional 676 shares in the last quarter. Sovereign Financial Group Inc. boosted its position in shares of Broadcom by 15.1% in the fourth quarter. Sovereign Financial Group Inc. now owns 5,924 shares of the semiconductor manufacturer's stock worth $1,373,000 after purchasing an additional 778 shares during the period. Accurate Wealth Management LLC increased its stake in shares of Broadcom by 6.8% in the fourth quarter. Accurate Wealth Management LLC now owns 18,743 shares of the semiconductor manufacturer's stock worth $4,206,000 after purchasing an additional 1,194 shares in the last quarter. Finally, Pines Wealth Management LLC bought a new stake in shares of Broadcom during the 4th quarter valued at $4,854,000. 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.