Broadcom (NASDAQ:AVGO) Shares Up 0.3%

Broadcom Inc. (NASDAQ:AVGO)’s share price traded up 0.3% during mid-day trading on Monday . The stock traded as high as $1,617.34 and last traded at $1,610.65. 1,435,681 shares were traded during trading, a decline of 55% from the average session volume of 3,171,401 shares. The stock had previously closed at $1,605.53.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AVGO shares. Piper Sandler increased their price objective on Broadcom from $1,650.00 to $2,000.00 and gave the stock an “overweight” rating in a report on Thursday, June 13th. UBS Group boosted their price objective on shares of Broadcom from $1,610.00 to $1,735.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Citigroup restated a “buy” rating and set a $1,560.00 target price on shares of Broadcom in a research note on Tuesday, June 11th. Barclays increased their price target on shares of Broadcom from $1,500.00 to $2,000.00 and gave the company an “overweight” rating in a report on Thursday, June 13th. Finally, Oppenheimer lifted their price objective on Broadcom from $1,500.00 to $2,000.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. Three equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,673.04.

Broadcom Stock Performance

The stock has a market capitalization of $761.02 billion, a P/E ratio of 69.28, a PEG ratio of 2.79 and a beta of 1.17. The stock’s 50-day simple moving average is $1,433.70 and its 200 day simple moving average is $1,305.45. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.25 and a quick ratio of 1.16.

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 minted shares will be payable to shareholders after the closing bell on Friday, July 12th.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, June 12th. The semiconductor manufacturer reported $10.96 EPS for the quarter, beating analysts’ consensus estimates of $10.78 by $0.18. The business had revenue of $12.49 billion for 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%. Broadcom’s quarterly revenue was up 43.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.51 EPS. Research analysts expect that Broadcom Inc. will post 37.19 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 24th were paid a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Monday, June 24th. Broadcom’s dividend payout ratio (DPR) is 90.32%.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the sale, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $1,367.52, for a total transaction of $3,418,800.00. Following the sale, the insider now directly owns 44,474 shares of the company’s stock, valued at approximately $60,819,084.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the transaction, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,364 shares of company stock valued at $13,953,966. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

Broadcom Company Profile

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.