Broadcom (NASDAQ:AVGO) Stock Price Down 1.4%

Broadcom Inc. (NASDAQ:AVGOGet Free Report)’s stock price fell 1.4% during mid-day trading on Wednesday . The company traded as low as $1,785.01 and last traded at $1,802.52. 8,679,674 shares were traded during trading, an increase of 142% from the average session volume of 3,589,615 shares. The stock had previously closed at $1,828.87.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AVGO shares. Bank of America upped their price target on shares of Broadcom from $1,680.00 to $2,000.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Oppenheimer raised their target price on shares of Broadcom from $1,500.00 to $2,000.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. UBS Group upped their price target on Broadcom from $1,610.00 to $1,735.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Cantor Fitzgerald raised their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Finally, The Goldman Sachs Group boosted their target price on Broadcom from $1,550.00 to $1,850.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Three equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,667.48.

Check Out Our Latest Report on Broadcom

Broadcom Price Performance

The company has a quick ratio of 1.16, a current ratio of 1.25 and a debt-to-equity ratio of 1.02. The firm has a market cap of $839.06 billion, a P/E ratio of 77.53, a price-to-earnings-growth ratio of 3.20 and a beta of 1.17. The stock’s 50-day moving average is $1,379.34 and its 200-day moving average is $1,267.74.

Broadcom shares are scheduled to split on Monday, July 15th. The 10-1 split was announced on Wednesday, June 12th. The newly created shares will be distributed to shareholders after the closing bell on Friday, July 12th.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its quarterly earnings results on Wednesday, June 12th. The semiconductor manufacturer reported $10.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.78 by $0.18. The firm had revenue of $12.49 billion during the quarter, compared to analyst estimates of $12.06 billion. Broadcom had a net margin of 24.10% and a return on equity of 35.82%. The company’s quarterly revenue was up 43.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.51 earnings per share. As a group, equities analysts anticipate that Broadcom Inc. will post 36.87 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 24th will be issued a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Monday, June 24th. Broadcom’s payout ratio is 90.32%.

Insider Activity at Broadcom

In related 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 value of $12,715,270.80. Following the completion of the transaction, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were 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 owns 45 shares of the company’s stock, valued at $62,465.85. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of the company’s 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 transaction, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The disclosure for this sale can be found here. Insiders sold 26,770 shares of company stock valued at $36,242,096 in the last ninety days. Insiders own 2.00% of the company’s stock.

Institutional Trading of Broadcom

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Legend Financial Advisors Inc. raised its holdings in Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 8 shares during the period. Stuart Chaussee & Associates Inc. bought a new stake in shares of Broadcom in the 4th quarter valued at $25,000. Richardson Capital Management LLC acquired a new stake in Broadcom during the 1st quarter worth $29,000. Delta Asset Management LLC TN lifted its holdings in Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 17 shares in the last quarter. Finally, PSI Advisors LLC grew its stake in Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 10 shares during the period. 76.43% of the stock is owned by institutional investors.

About Broadcom

(Get Free Report)

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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