Shares of Broadcom Inc. (NASDAQ:AVGO - Get Free Report) were up 0.2% on Tuesday . The stock traded as high as $1,348.35 and last traded at $1,341.35. Approximately 236,368 shares changed hands during trading, a decline of 92% from the average daily volume of 2,883,547 shares. The stock had previously closed at $1,338.62.
Wall Street Analyst Weigh In
Several brokerages have commented on AVGO. Rosenblatt Securities reiterated a "buy" rating and issued a $1,500.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Mizuho lifted their target price on Broadcom from $1,450.00 to $1,550.00 and gave the stock a "buy" rating in a research report on Thursday, March 7th. TD Cowen raised shares of Broadcom from a "market perform" rating to an "outperform" rating and upped their target price for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Cantor Fitzgerald upped their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the company an "overweight" rating in a research note on Monday, March 4th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $1,325.00 target price on shares of Broadcom in a research note on Friday, January 19th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,285.41.
View Our Latest Stock Report on AVGO
Broadcom Price Performance
The firm has a market cap of $602.57 billion, a PE ratio of 48.19, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The company has a 50 day moving average price of $1,310.04 and a 200 day moving average price of $1,143.82.
Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same quarter in the prior year, the company earned $9.83 earnings per share. Broadcom's revenue was up 34.2% compared to the same quarter last year. On average, sell-side analysts expect that Broadcom Inc. will post 35.96 EPS for the current year.
Broadcom Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Wednesday, March 20th. Broadcom's dividend payout ratio (DPR) is presently 77.84%.
Insider Transactions at Broadcom
In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the sale, the chief executive officer now owns 168,096 shares in the company, valued at approximately $220,583,976. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Kenneth Hao sold 9,160 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the transaction, the director now owns 45 shares of the company's stock, valued at $62,465.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the transaction, the chief executive officer now directly owns 168,096 shares in the company, valued at approximately $220,583,976. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 in the last ninety days. Corporate insiders own 2.00% of the company's stock.
Institutional Investors Weigh In On Broadcom
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Broadcom during the 4th quarter worth about $6,225,987,000. International Assets Investment Management LLC raised its stake in Broadcom by 113,495.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer's stock worth $37,140,060,000 after purchasing an additional 3,324,288 shares during the period. Wellington Management Group LLP boosted its holdings 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 purchasing an additional 1,228,755 shares during the last quarter. Capital International Investors grew its stake in shares of Broadcom by 4.5% during 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 buying an additional 1,006,223 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Broadcom during the 3rd quarter worth $560,563,000. Hedge funds and other institutional investors own 76.43% of the company's stock.
Broadcom Company Profile
(
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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.
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