Broadcom (NASDAQ:AVGO) Shares Down 0.4%

Broadcom Inc. (NASDAQ:AVGO)’s stock price fell 0.4% during trading on Friday . The stock traded as low as $1,715.07 and last traded at $1,721.46. 1,408,783 shares traded hands during trading, a decline of 56% from the average session volume of 3,190,700 shares. The stock had previously closed at $1,729.22.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Truist Financial raised their price target on shares of Broadcom from $1,566.00 to $2,045.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Citigroup restated a “buy” rating and issued a $1,560.00 target price on shares of Broadcom in a report on Tuesday, June 11th. Piper Sandler upped their price target on Broadcom from $1,650.00 to $2,000.00 and gave the stock an “overweight” rating in a report on Thursday, June 13th. Sanford C. Bernstein raised their price objective on Broadcom from $1,600.00 to $1,950.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Finally, Melius started coverage on shares of Broadcom in a research note on Monday, June 3rd. They issued a “buy” rating and a $1,850.00 target price for the company. Three investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,673.04.

Broadcom Stock Performance

The business’s fifty day moving average price is $1,468.34 and its 200-day moving average price is $1,318.71. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.25 and a quick ratio of 1.16. The stock has a market capitalization of $796.85 billion, a PE ratio of 74.04, a P/E/G ratio of 3.00 and a beta of 1.17.

Shares of Broadcom are scheduled to split on the morning of 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:AVGO) last issued its quarterly earnings data on Wednesday, June 12th. The semiconductor manufacturer reported $10.96 EPS for the quarter, topping the consensus estimate of $10.78 by $0.18. Broadcom had a return on equity of 35.82% and a net margin of 24.10%. The company had revenue of $12.49 billion during the quarter, compared to analyst estimates of $12.06 billion. During the same quarter in the previous year, the firm earned $9.51 earnings per share. Broadcom’s revenue was up 43.0% on a year-over-year basis. As a group, equities research analysts expect that Broadcom Inc. will post 37.19 EPS for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 24th were given a $5.25 dividend. The ex-dividend date was Monday, June 24th. This represents a $21.00 annualized dividend and a yield of 1.23%. Broadcom’s dividend payout ratio (DPR) is presently 90.32%.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the sale, the insider now owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Broadcom news, Director Justine Page sold 254 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $1,750.26, for a total value of $444,566.04. Following the completion of the sale, the director now owns 2,748 shares in the company, valued at $4,809,714.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the transaction, the insider now owns 41,974 shares in the company, valued at approximately $55,257,092.04. The disclosure for this sale can be found here. Insiders have sold 2,864 shares of company stock worth $3,881,246 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

Several institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in Broadcom during the 4th quarter valued at approximately $6,225,987,000. International Assets Investment Management LLC raised its holdings in shares of Broadcom by 113,495.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock valued at $37,140,060,000 after acquiring an additional 3,324,288 shares in the last quarter. Swedbank AB purchased a new stake in Broadcom in the first quarter worth $2,835,737,000. Vanguard Group Inc. boosted its holdings in Broadcom by 3.0% in the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock valued at $59,181,244,000 after acquiring an additional 1,303,462 shares in the last quarter. Finally, Jennison Associates LLC increased its position in Broadcom by 43.9% during the 1st quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock valued at $5,488,556,000 after purchasing an additional 1,263,957 shares during the period. Hedge funds and other 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.