Broadcom (NASDAQ:AVGO) Shares Up 2%

Broadcom Inc. (NASDAQ:AVGO) shares were up 2% on Friday . The company traded as high as $1,344.00 and last traded at $1,332.00. Approximately 522,657 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 2,810,801 shares. The stock had previously closed at $1,305.67.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AVGO shares. Cantor Fitzgerald upped their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a research note on Friday, January 19th. UBS Group increased their price objective on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research note on Monday, April 8th. Finally, Evercore ISI assumed coverage on shares of Broadcom in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Stock Performance

The company’s fifty day moving average is $1,308.31 and its 200 day moving average is $1,163.21. The company has a market capitalization of $617.65 billion, a P/E ratio of 49.40, a P/E/G ratio of 2.66 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period last year, the firm earned $9.83 EPS. As a group, equities analysts anticipate that Broadcom Inc. will post 35.96 earnings per share 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 issued a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.58%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The disclosure for this sale can be found here. In 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.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Sandy Spring Bank grew its position in Broadcom by 4.9% in the third quarter. Sandy Spring Bank now owns 621 shares of the semiconductor manufacturer’s stock worth $516,000 after acquiring an additional 29 shares in the last quarter. Bell Bank grew its position in Broadcom by 19.3% in the third quarter. Bell Bank now owns 575 shares of the semiconductor manufacturer’s stock worth $478,000 after acquiring an additional 93 shares in the last quarter. Choate Investment Advisors grew its position in Broadcom by 47.6% in the third quarter. Choate Investment Advisors now owns 2,242 shares of the semiconductor manufacturer’s stock worth $1,862,000 after acquiring an additional 723 shares in the last quarter. CFO4Life Group LLC grew its position in Broadcom by 182.6% in the third quarter. CFO4Life Group LLC now owns 1,139 shares of the semiconductor manufacturer’s stock worth $946,000 after acquiring an additional 736 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC grew its position in Broadcom by 36.0% in the third quarter. Blue Bell Private Wealth Management LLC now owns 102 shares of the semiconductor manufacturer’s stock worth $85,000 after acquiring an additional 27 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

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.