Broadcom (NASDAQ:AVGO) Shares Down 0.8%

Broadcom Inc. (NASDAQ:AVGO - Get Free Report)'s share price dropped 0.8% on Thursday . The stock traded as low as $1,225.67 and last traded at $1,232.92. Approximately 530,410 shares changed hands during trading, a decline of 82% from the average daily volume of 2,880,453 shares. The stock had previously closed at $1,242.86.

Analyst Upgrades and Downgrades

AVGO has been the subject of several research analyst reports. Mizuho upped their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a "buy" rating in a report on Thursday, March 7th. Barclays increased their price objective on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 17th. StockNews.com cut shares of Broadcom from a "buy" rating to a "hold" rating in a report on Thursday, January 4th. Oppenheimer restated an "outperform" rating and set a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $1,325.00 price objective on shares of Broadcom in a research report on Friday, January 19th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,285.41.

Broadcom Stock Down 0.3 %

The stock has a 50 day moving average price of $1,309.02 and a 200 day moving average price of $1,145.17. The company has a market capitalization of $573.98 billion, a P/E ratio of 45.91, a PEG ratio of 2.65 and a beta of 1.25. 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 announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion for 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 firm's quarterly revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the business posted $9.83 EPS. Equities research analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders 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 yield of 1.70%. 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 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 transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the sale, the insider now directly owns 16,575 shares of the company's stock, valued at $22,276,800. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares in the company, valued at $62,465.85. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Broadcom

Institutional investors have recently modified their holdings of the business. Legend Financial Advisors Inc. raised its stake in Broadcom by 72.7% during the 1st 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 period. Stuart Chaussee & Associates Inc. bought a new position in shares of Broadcom in the 4th quarter worth $25,000. Richardson Capital Management LLC bought a new position in shares of Broadcom in the 1st quarter worth $29,000. PSI Advisors LLC grew its stake in Broadcom by 66.7% during the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer's stock worth $28,000 after buying an additional 10 shares during the last quarter. Finally, BKM Wealth Management LLC purchased a new stake in Broadcom during the 4th quarter valued at about $29,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

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.