Broadcom (NASDAQ:AVGO) Stock Price Down 1.5%

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) traded down 1.5% on Friday . The stock traded as low as $1,234.00 and last traded at $1,240.45. 568,256 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 2,914,473 shares. The stock had previously closed at $1,258.99.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AVGO shares. Cantor Fitzgerald boosted 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. Oppenheimer reiterated an "outperform" rating and set a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Benchmark reiterated a "buy" rating and set a $1,720.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Susquehanna boosted their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the company a "positive" rating in a research note on Wednesday, February 28th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $1,500.00 target price on shares of Broadcom in a research note on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,285.41.

Broadcom Price Performance

The business has a fifty day moving average price of $1,305.11 and a 200-day moving average price of $1,118.75. 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 stock has a market capitalization of $558.29 billion, a PE ratio of 44.65, a PEG ratio of 2.62 and a beta of 1.25.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) 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 return on equity of 47.71% and a net margin of 29.93%. The company's revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period in the prior year, the business earned $9.83 EPS. Research analysts expect that Broadcom Inc. will post 35.88 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom's dividend payout ratio is presently 77.84%.

Insider Activity at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction dated Tuesday, March 12th. The stock was 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 directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction dated Tuesday, March 12th. The stock was 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 directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the sale, the chief executive officer now owns 168,096 shares of the company's stock, valued at approximately $220,583,976. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock worth $40,306,667 in the last ninety days. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Broadcom

Several institutional investors and hedge funds have recently bought and sold shares of the business. FORVIS Wealth Advisors LLC lifted its holdings in Broadcom by 39.4% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 944 shares of the semiconductor manufacturer's stock worth $1,251,000 after buying an additional 267 shares during the period. Veracity Capital LLC raised its position in shares of Broadcom by 11.8% in the 1st quarter. Veracity Capital LLC now owns 973 shares of the semiconductor manufacturer's stock worth $1,290,000 after acquiring an additional 103 shares in the last quarter. Willis Johnson & Associates Inc. bought a new position in shares of Broadcom in the 1st quarter worth approximately $301,000. Whelan Financial raised its position in shares of Broadcom by 29.7% in the 1st quarter. Whelan Financial now owns 262 shares of the semiconductor manufacturer's stock worth $347,000 after acquiring an additional 60 shares in the last quarter. Finally, Marshall Financial Group LLC raised its position in shares of Broadcom by 2.2% in the 1st quarter. Marshall Financial Group LLC now owns 2,695 shares of the semiconductor manufacturer's stock worth $3,572,000 after acquiring an additional 58 shares in the last quarter. Hedge funds and other institutional investors 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.