Broadcom (NASDAQ:AVGO) Stock Price Up 2.8% – What’s Next?

Broadcom Inc. (NASDAQ:AVGO)’s stock price was up 2.8% during mid-day trading on Thursday . The stock traded as high as $184.55 and last traded at $184.55. Approximately 3,253,383 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 29,785,717 shares. The stock had previously closed at $179.55.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AVGO. Morgan Stanley lifted their price target on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Mizuho lifted their price target on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Benchmark restated a “buy” rating and issued a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. Finally, Oppenheimer dropped their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $192.79.

Broadcom Stock Up 2.2 %

The company’s 50 day moving average price is $169.80 and its 200 day moving average price is $156.94. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $856.91 billion, a price-to-earnings ratio of 160.48, a P/E/G ratio of 1.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 EPS. As a group, research analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.16%. Broadcom’s dividend payout ratio (DPR) is currently 184.35%.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the sale, the insider now directly owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the transaction, the insider now owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AVGO. SYM FINANCIAL Corp boosted its position in Broadcom by 6.0% during the first quarter. SYM FINANCIAL Corp now owns 390 shares of the semiconductor manufacturer’s stock worth $517,000 after acquiring an additional 22 shares during the last quarter. Concord Investment Counsel Inc. purchased a new position in Broadcom during the first quarter worth about $297,000. CFO4Life Group LLC boosted its stake in Broadcom by 5.2% in the 1st quarter. CFO4Life Group LLC now owns 1,225 shares of the semiconductor manufacturer’s stock worth $1,624,000 after buying an additional 61 shares during the last quarter. Empirical Finance LLC increased its stake in shares of Broadcom by 3.7% during the 1st quarter. Empirical Finance LLC now owns 14,728 shares of the semiconductor manufacturer’s stock valued at $19,521,000 after acquiring an additional 528 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Broadcom by 2.7% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 17,695 shares of the semiconductor manufacturer’s stock worth $23,453,000 after acquiring an additional 460 shares during the period. Institutional investors and hedge funds 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.