Broadcom (NASDAQ:AVGO) Trading Down 0.4% – Here’s What Happened

Shares of Broadcom Inc. (NASDAQ:AVGO) were down 0.4% on Tuesday . The company traded as low as $188.81 and last traded at $190.40. Approximately 4,762,312 shares changed hands during trading, a decline of 84% from the average daily volume of 30,319,176 shares. The stock had previously closed at $191.25.

Analysts Set New Price Targets

A number of research firms have commented on AVGO. Citigroup boosted their price objective on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Barclays upped their price target on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Stock Down 1.2 %

The firm has a market cap of $888.15 billion, a P/E ratio of 154.25, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The firm’s 50 day moving average is $213.70 and its two-hundred day moving average is $195.64. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.25%. Broadcom’s dividend payout ratio is 113.46%.

Insider Activity

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the transaction, the insider now directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now owns 113,050 shares in the company, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,000 shares of company stock valued at $21,494,560 in the last quarter. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

Large investors have recently made changes to their positions in the stock. Central Pacific Bank Trust Division increased its holdings in Broadcom by 21.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after purchasing an additional 3,707 shares in the last quarter. Wolff Financial Management LLC bought a new position in shares of Broadcom during the fourth quarter worth about $244,000. Strait & Sound Wealth Management LLC raised its position in Broadcom by 829.8% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock valued at $1,371,000 after buying an additional 7,095 shares during the last quarter. Motive Wealth Advisors lifted its stake in Broadcom by 1,076.5% in the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock valued at $1,066,000 after acquiring an additional 4,209 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in Broadcom by 969.3% during the 3rd quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock worth $66,696,000 after acquiring an additional 350,485 shares during the last quarter. 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.