Broadcom (NASDAQ:AVGO) Stock Price Up 2%

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) traded up 2% on Friday . The stock traded as high as $1,344.00 and last traded at $1,332.00. 522,657 shares changed hands during trading, a decline of 81% from the average session volume of 2,810,801 shares. The stock had previously closed at $1,305.67.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Mizuho lifted their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a "buy" rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $1,700.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Benchmark reiterated a "buy" rating and set a $1,720.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. UBS Group lifted their target price on shares of Broadcom to $1,480.00 and gave the company a "buy" rating in a research note on Monday, February 26th. Finally, Evercore ISI started coverage on shares of Broadcom in a research note on Tuesday, April 16th. They set an "outperform" rating and a $1,620.00 target price for the company. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,285.41.

Broadcom Stock Up 2.1 %

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 cap of $617.65 billion, a P/E ratio of 49.47, a P/E/G ratio of 2.60 and a beta of 1.25. The business has a fifty day moving average of $1,309.64 and a 200 day moving average of $1,159.94.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts' consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same period last year, the company posted $9.83 EPS. Broadcom's revenue for the quarter was up 34.2% on a year-over-year basis. On average, equities research analysts predict that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Dividend Announcement

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

Insider Buying and Selling at Broadcom

In other news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction dated 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 transaction, the director now owns 45 shares in the company, valued at approximately $62,465.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now directly owns 45 shares in the company, valued at $62,465.85. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Justine Page sold 110 shares of Broadcom 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 sale, the director now owns 3,125 shares in the company, valued at $4,134,375. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,920 shares of company stock valued at $40,306,667. Company insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Broadcom

Several hedge funds have recently modified their holdings of AVGO. Legend Financial Advisors Inc. boosted its position in Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 8 shares during the last quarter. Stuart Chaussee & Associates Inc. bought a new position in shares of Broadcom in the fourth quarter valued at $25,000. Richardson Capital Management LLC acquired a new position in Broadcom during the first quarter worth $29,000. PSI Advisors LLC raised its position in Broadcom by 66.7% during the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer's stock worth $28,000 after acquiring an additional 10 shares in the last quarter. Finally, BKM Wealth Management LLC acquired a new stake in Broadcom in the fourth quarter valued at $29,000. 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.

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