Broadcom (NASDAQ:AVGO) Trading 1.8% Higher

Shares of Broadcom Inc. (NASDAQ:AVGO - Get Free Report) were up 1.8% during trading on Tuesday . The stock traded as high as $1,257.53 and last traded at $1,246.69. Approximately 468,758 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 2,929,223 shares. The stock had previously closed at $1,224.46.

Analyst Ratings Changes

Several equities analysts recently commented on AVGO shares. JPMorgan Chase & Co. restated an "overweight" rating and issued a $1,700.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Barclays upped their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an "overweight" rating in a research note on Wednesday, April 17th. Benchmark restated a "buy" rating and issued a $1,720.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Evercore ISI assumed coverage on shares of Broadcom in a research note on Tuesday, April 16th. They issued an "outperform" rating and a $1,620.00 price target on the stock. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $1,325.00 price objective on shares of Broadcom in a research note on Friday, January 19th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,285.41.

Broadcom Trading Up 2.0 %

The business's fifty day moving average is $1,304.25 and its 200-day moving average is $1,128.64. The firm has a market cap of $578.90 billion, a P/E ratio of 46.30, a price-to-earnings-growth ratio of 2.46 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.

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, beating analysts' consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm's quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter last year, the business earned $9.83 EPS. Analysts predict that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.68%. Broadcom's payout ratio is 77.84%.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 110 shares of the firm'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 transaction of $145,530.00. Following the completion of the transaction, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Justine Page sold 110 shares of Broadcom stock in a transaction on Wednesday, April 10th. The shares were 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 approximately $4,134,375. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is currently owned by insiders.

Institutional Trading of Broadcom

Several hedge funds have recently modified their holdings of the stock. Capital International Investors increased its stake in shares of Broadcom by 4.5% in the 4th quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer's stock valued at $26,044,294,000 after acquiring an additional 1,006,223 shares in the last quarter. Norges Bank bought a new stake in shares of Broadcom in the 4th quarter valued at $6,225,987,000. Northern Trust Corp increased its stake in shares of Broadcom by 3.7% in the 4th quarter. Northern Trust Corp now owns 4,825,465 shares of the semiconductor manufacturer's stock valued at $5,386,425,000 after acquiring an additional 170,063 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Broadcom by 43.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer's stock valued at $3,343,631,000 after acquiring an additional 1,228,755 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Broadcom by 16.7% in the 3rd quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer's stock valued at $3,338,203,000 after acquiring an additional 573,826 shares in the last quarter. Institutional investors 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.