Broadcom (NASDAQ:AVGO) Trading 0.4% Higher - Time to Buy?

Shares of Broadcom Inc. (NASDAQ:AVGO - Get Free Report) shot up 0.4% on Friday . The stock traded as high as $209.96 and last traded at $208.66. 3,423,663 shares traded hands during trading, a decline of 89% from the average session volume of 31,087,615 shares. The stock had previously closed at $207.77.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AVGO shares. Mizuho decreased their price target on Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Citigroup decreased their price target on Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Barclays decreased their price target on Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. KeyCorp increased their price target on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 price target on shares of Broadcom in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus price target of $229.48.

Broadcom Price Performance

The stock has a 50 day moving average price of $182.95 and a two-hundred day moving average price of $197.68. 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 company has a market capitalization of $979.23 billion, a PE ratio of 169.87, a P/E/G ratio of 2.29 and a beta of 1.04.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Thursday, March 20th. Broadcom's payout ratio is 113.46%.

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

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the sale, the insider now owns 490,956 shares of the company's stock, valued at $95,564,585.40. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $120,578,041.60. Following the completion of the sale, the director now directly 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 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. Corporate insiders own 2.00% of the company's stock.

Institutional Trading of Broadcom

Several institutional investors have recently modified their holdings of AVGO. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Broadcom during the 1st quarter worth approximately $25,000. Cheviot Value Management LLC acquired a new stake in Broadcom in the 1st quarter valued at $25,000. Canton Hathaway LLC acquired a new stake in Broadcom in the 4th quarter valued at $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom in the 4th quarter valued at $26,000. Finally, Inlight Wealth Management LLC acquired a new stake in Broadcom in the 1st quarter valued at $26,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Company Profile

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.