Broadcom (NASDAQ:AVGO) Stock Price Up 0.7%

Broadcom Inc. (NASDAQ:AVGO - Get Free Report)'s share price rose 0.7% during trading on Monday . The company traded as high as $1,370.00 and last traded at $1,352.83. Approximately 358,492 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 2,947,098 shares. The stock had previously closed at $1,344.07.

Analyst Ratings Changes

AVGO has been the subject of a number of research analyst reports. The Goldman Sachs Group reiterated a "buy" rating and issued a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. StockNews.com cut Broadcom from a "buy" rating to a "hold" rating in a research note on Thursday, January 4th. JPMorgan Chase & Co. restated an "overweight" rating and issued a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Barclays initiated coverage on Broadcom in a research note on Wednesday, March 20th. They issued an "overweight" rating and a $1,405.00 price objective for the company. Finally, Susquehanna raised their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the stock a "positive" rating in a research note on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. According to MarketBeat.com, Broadcom currently has an average rating of "Moderate Buy" and an average price target of $1,255.18.

Broadcom Stock Performance

The firm has a fifty day moving average of $1,303.01 and a 200-day moving average of $1,107.12. The stock has a market capitalization of $607.40 billion, a price-to-earnings ratio of 50.14, a PEG ratio of 2.74 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analysts' expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. Broadcom's revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the firm posted $9.83 earnings per share. As a group, sell-side analysts anticipate that Broadcom Inc. will post 35.95 EPS for the current year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a yield of 1.60%. The ex-dividend date was Wednesday, March 20th. Broadcom's payout ratio is 77.84%.

Insiders Place Their Bets

In other news, Director Justine Page sold 110 shares of Broadcom stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now owns 3,125 shares of the company's stock, valued at $4,134,375. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Broadcom news, Director Justine Page sold 110 shares of the business's stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the sale, the director now owns 3,125 shares of the company's stock, valued at $4,134,375. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Hock E. Tan sold 2,000 shares of the business's stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the sale, the chief executive officer now directly owns 168,096 shares of the company's stock, valued at approximately $220,583,976. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,920 shares of company stock valued at $40,306,667. Corporate insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Broadcom

Several institutional investors have recently made changes to their positions in AVGO. Stuart Chaussee & Associates Inc. bought a new position in shares of Broadcom during the fourth quarter valued at approximately $25,000. PSI Advisors LLC lifted its position in Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer's stock worth $28,000 after purchasing an additional 10 shares during the period. Macroview Investment Management LLC acquired a new stake in shares of Broadcom during the 3rd quarter valued at $29,000. BKM Wealth Management LLC acquired a new stake in shares of Broadcom during the 4th quarter valued at $29,000. Finally, CKW Financial Group purchased a new stake in shares of Broadcom in the fourth quarter valued at $30,000. 76.43% of the stock is owned by 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.