Broadcom (NASDAQ:AVGO) Trading 2.6% Higher

Broadcom Inc. (NASDAQ:AVGO - Get Free Report)'s stock price shot up 2.6% during mid-day trading on Wednesday . The company traded as high as $1,337.91 and last traded at $1,336.63. 388,517 shares changed hands during trading, a decline of 86% from the average session volume of 2,843,018 shares. The stock had previously closed at $1,303.11.

Analyst Ratings Changes

AVGO has been the subject of several recent research reports. Mizuho raised their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a "buy" rating in a research note on Thursday, March 7th. Cantor Fitzgerald lifted their target price on Broadcom from $1,300.00 to $1,600.00 and gave the company an "overweight" rating in a report on Monday, March 4th. Susquehanna boosted their target price 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. TD Cowen raised Broadcom from a "market perform" rating to an "outperform" rating and increased their price target for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,285.41.

Broadcom Price Performance

The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $614.20 billion, a price-to-earnings ratio of 49.12, a P/E/G ratio of 2.60 and a beta of 1.25. The company has a fifty day moving average price of $1,308.82 and a two-hundred day moving average price of $1,157.75.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 29.93% and a return on equity of 47.71%. Broadcom's quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.83 EPS. On average, equities research analysts expect that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Wednesday, March 20th. Broadcom's dividend payout ratio is currently 77.84%.

Insider Buying and Selling at Broadcom

In related news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares of the company's stock, valued at $62,465.85. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Kenneth Hao sold 9,160 shares of the business's stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the transaction, the director now directly owns 45 shares in the company, valued at $62,465.85. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the firm's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares of the company's stock, valued at approximately $5,991,048.62. 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. Insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Broadcom by 27.8% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 90,155 shares of the semiconductor manufacturer's stock worth $119,493,000 after purchasing an additional 19,598 shares in the last quarter. FPC Investment Advisory Inc. purchased a new stake in Broadcom during the first quarter worth about $156,000. Doheny Asset Management CA grew its position in Broadcom by 4.3% during the first quarter. Doheny Asset Management CA now owns 4,142 shares of the semiconductor manufacturer's stock worth $5,490,000 after buying an additional 171 shares during the period. J.P. Marvel Investment Advisors LLC increased its holdings in Broadcom by 12.1% in the first quarter. J.P. Marvel Investment Advisors LLC now owns 658 shares of the semiconductor manufacturer's stock valued at $872,000 after buying an additional 71 shares in the last quarter. Finally, Richard C. Young & CO. LTD. acquired a new stake in shares of Broadcom during the 1st quarter valued at approximately $17,909,000. Institutional investors and hedge funds own 76.43% of the company's stock.

About Broadcom

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.