Broadcom (NASDAQ:AVGO) Stock Price Up 1.1% - Time to Buy?

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) shares traded up 1.1% during trading on Thursday . The company traded as high as $269.50 and last traded at $267.51. 5,991,461 shares traded hands during trading, a decline of 79% from the average session volume of 29,086,019 shares. The stock had previously closed at $264.65.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AVGO shares. JPMorgan Chase & Co. boosted their target price on Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Bank of America upped their price target on Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Erste Group Bank raised Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Finally, Wall Street Zen lowered shares of Broadcom from a "buy" rating to a "hold" rating in a research note on Sunday, June 15th. Two equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of "Buy" and an average target price of $281.25.

Broadcom Trading Down 0.3%

The stock has a market cap of $1.27 trillion, a PE ratio of 100.88, a PEG ratio of 1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The stock has a fifty day moving average price of $227.46 and a 200 day moving average price of $214.61.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. Broadcom's quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $10.96 earnings per share. Equities analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.88%. Broadcom's payout ratio is 88.39%.

Broadcom declared that its Board of Directors has approved a share buyback program on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its stock is undervalued.

Insider Activity

In related news, Director Justine Page sold 800 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total value of $184,152.00. Following the completion of the transaction, the director now owns 26,182 shares of the company's stock, valued at $6,026,834.58. The trade was a 2.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 337,818 shares of company stock valued at $84,167,415. Corporate insiders own 2.00% of the company's stock.

Institutional Trading of Broadcom

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

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.