Broadcom (NASDAQ:AVGO) Trading Down 2.3%

Broadcom Inc. (NASDAQ:AVGO - Get Free Report)'s share price fell 2.3% on Wednesday . The stock traded as low as $1,263.27 and last traded at $1,270.00. 439,206 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 2,877,277 shares. The stock had previously closed at $1,300.27.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AVGO. Rosenblatt Securities reissued a "buy" rating and issued a $1,500.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Benchmark reissued a "buy" rating and set a $1,720.00 target price on shares of Broadcom in a research note on Thursday, March 21st. TD Cowen upgraded shares of Broadcom from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Evercore ISI assumed coverage on shares of Broadcom in a report on Tuesday, April 16th. They issued an "outperform" rating and a $1,620.00 price objective for the company. Finally, Mizuho upped their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a "buy" rating in a report on Thursday, March 7th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,285.41.

Broadcom Stock Performance

The company has a market capitalization of $575.97 billion, a P/E ratio of 46.07, a price-to-earnings-growth ratio of 2.72 and a beta of 1.25. The stock's 50 day moving average price is $1,310.35 and its 200 day moving average price is $1,144.51. 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 released 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 company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same period last year, the firm earned $9.83 earnings per share. The firm's revenue was up 34.2% on a year-over-year basis. As a group, equities analysts expect that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Dividend Announcement

The company 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. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.69%. Broadcom's dividend payout ratio is currently 77.84%.

Insiders Place Their Bets

In related news, Director Justine Page sold 110 shares of the company's 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 directly owns 3,125 shares in the company, valued at approximately $4,134,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the company'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 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 through this hyperlink. Also, Director Justine Page sold 110 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was 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 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 quarter. Corporate insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On Broadcom

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVGO. Capital International Investors grew its holdings in shares of Broadcom by 4.5% in the fourth quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer's stock valued at $26,044,294,000 after purchasing an additional 1,006,223 shares in the last quarter. Norges Bank bought a new stake in shares of Broadcom during the fourth quarter worth $6,225,987,000. Northern Trust Corp lifted its position in shares of Broadcom by 3.7% during the fourth quarter. Northern Trust Corp now owns 4,825,465 shares of the semiconductor manufacturer's stock worth $5,386,425,000 after purchasing an additional 170,063 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Broadcom by 43.9% during the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer's stock worth $3,343,631,000 after purchasing an additional 1,228,755 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Broadcom by 16.7% in the third 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.

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.