Broadcom Inc. (NASDAQ:AVGO) Short Interest Update

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 5,830,000 shares, a growth of 6.4% from the March 31st total of 5,480,000 shares. Based on an average daily volume of 2,960,000 shares, the short-interest ratio is currently 2.0 days.

Broadcom Stock Down 4.4 %

Shares of NASDAQ AVGO traded down $57.41 during midday trading on Wednesday, reaching $1,242.86. 3,093,767 shares of the company's stock were exchanged, compared to its average volume of 2,909,805. Broadcom has a 52-week low of $601.29 and a 52-week high of $1,438.17. The stock has a market capitalization of $575.97 billion, a PE ratio of 46.07, a price-to-earnings-growth ratio of 2.72 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The business's fifty day moving average price is $1,310.35 and its two-hundred day moving average price is $1,144.51.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same period in the previous year, the company earned $9.83 earnings per share. The company's revenue for the quarter was up 34.2% compared to the same quarter last year. Analysts forecast that Broadcom will post 35.96 EPS for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom's payout ratio is 77.84%.

Analyst Upgrades and Downgrades

AVGO has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Monday, April 8th. Benchmark reissued a "buy" rating and set a $1,720.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Barclays raised their price objective on Broadcom from $1,405.00 to $1,500.00 and gave the stock an "overweight" rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. restated an "overweight" rating and set a $1,700.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Finally, UBS Group raised their price objective on Broadcom to $1,480.00 and gave the stock a "buy" rating in a report on Monday, February 26th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,285.41.

Insider Activity

In other news, insider Mark David Brazeal sold 2,500 shares of the business's stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the sale, the insider now directly owns 41,974 shares of the company's stock, valued at approximately $55,257,092.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the company's stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the sale, the insider now directly owns 41,974 shares of the company's stock, valued at approximately $55,257,092.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Justine Page sold 110 shares of the company's stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the sale, the director now directly owns 3,125 shares of the company's stock, valued at $4,134,375. The disclosure for this sale can be found here. In the last three months, insiders sold 29,920 shares of company stock valued at $40,306,667. Insiders own 2.00% of the company's stock.

Institutional Trading of Broadcom

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Horizon Family Wealth Inc. boosted its holdings in Broadcom by 1.3% during the fourth quarter. Horizon Family Wealth Inc. now owns 640 shares of the semiconductor manufacturer's stock valued at $715,000 after acquiring an additional 8 shares during the period. Tucker Asset Management LLC boosted its holdings in Broadcom by 12.5% during the fourth quarter. Tucker Asset Management LLC now owns 72 shares of the semiconductor manufacturer's stock valued at $80,000 after acquiring an additional 8 shares during the period. Buckley Wealth Management LLC boosted its holdings in Broadcom by 0.7% during the first quarter. Buckley Wealth Management LLC now owns 1,153 shares of the semiconductor manufacturer's stock valued at $1,529,000 after acquiring an additional 8 shares during the period. Legend Financial Advisors Inc. lifted its stake in shares of Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 8 shares during the period. Finally, Ascent Wealth Partners LLC lifted its stake in shares of Broadcom by 0.3% in the first quarter. Ascent Wealth Partners LLC now owns 2,964 shares of the semiconductor manufacturer's stock valued at $3,929,000 after buying an additional 8 shares during the period. 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.