Broadcom (NASDAQ:AVGO) Trading Up 3.9%

Broadcom Inc. (NASDAQ:AVGO) shares rose 3.9% during trading on Friday . The company traded as high as $1,355.83 and last traded at $1,345.21. Approximately 877,998 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 2,916,094 shares. The stock had previously closed at $1,294.42.

Analyst Ratings Changes

Several equities research analysts have issued reports on AVGO shares. Evercore ISI assumed coverage on shares of Broadcom in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price objective for the company. Mizuho increased their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Rosenblatt Securities reissued a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research note on Monday, April 8th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Stock Performance

The company has a market cap of $622.87 billion, a price-to-earnings ratio of 49.65, a P/E/G ratio of 2.56 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. The company has a fifty day moving average of $1,304.73 and a two-hundred day moving average of $1,130.68.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm 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 posted $9.83 earnings per share. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. Equities research analysts anticipate that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

The firm 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 1.56%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Insider Activity

In related news, Director Justine Page sold 110 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the sale, the director now owns 3,125 shares of the company’s stock, valued at $4,134,375. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Broadcom 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 transaction of $6,720,000.00. Following the completion of the transaction, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Justine Page sold 110 shares of the business’s 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. Over the last 90 days, insiders sold 29,920 shares of company stock valued at $40,306,667. Insiders own 2.00% of the company’s stock.

Institutional Trading of Broadcom

A number of institutional investors have recently bought and sold shares of AVGO. YHB Investment Advisors Inc. boosted its position in shares of Broadcom by 8.1% during the 1st quarter. YHB Investment Advisors Inc. now owns 933 shares of the semiconductor manufacturer’s stock valued at $1,237,000 after purchasing an additional 70 shares in the last quarter. First National Trust Co grew its position in shares of Broadcom by 23.2% during the 1st quarter. First National Trust Co now owns 16,686 shares of the semiconductor manufacturer’s stock worth $22,116,000 after buying an additional 3,138 shares during the period. Clear Creek Financial Management LLC lifted its position in shares of Broadcom by 17.8% during the 1st quarter. Clear Creek Financial Management LLC now owns 484 shares of the semiconductor manufacturer’s stock valued at $642,000 after acquiring an additional 73 shares during the period. Quantum Financial Advisors LLC grew its holdings in Broadcom by 29.7% in the first quarter. Quantum Financial Advisors LLC now owns 1,093 shares of the semiconductor manufacturer’s stock worth $1,449,000 after purchasing an additional 250 shares during the period. Finally, Members Trust Co grew its stake in shares of Broadcom by 21.8% in the 1st quarter. Members Trust Co now owns 218 shares of the semiconductor manufacturer’s stock valued at $289,000 after buying an additional 39 shares during the period. 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.