Broadcom (NASDAQ:AVGO) Shares Up 0.3% – Still a Buy?

Broadcom Inc. (NASDAQ:AVGO) traded up 0.3% during mid-day trading on Wednesday . The stock traded as high as $232.47 and last traded at $229.27. 5,079,793 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 24,257,193 shares. The stock had previously closed at $228.64.

Analyst Ratings Changes

Several research firms have recently weighed in on AVGO. Barclays upped their price target on shares of Broadcom from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. UBS Group boosted their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a report on Wednesday, December 11th. Finally, William Blair assumed coverage on Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $221.88.

Broadcom Stock Up 0.2 %

The stock has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 199.11, a P/E/G ratio of 2.15 and a beta of 1.03. The business has a 50-day moving average of $193.55 and a 200-day moving average of $174.58. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 earnings per share. On average, sell-side analysts expect that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 1.03%. Broadcom’s dividend payout ratio (DPR) is 191.87%.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were 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 in the company, valued at approximately $133,781,155.20. The trade was a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the transaction, the chief executive officer now owns 842,836 shares in the company, valued at approximately $202,246,926.56. This trade represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,228 shares of company stock valued at $35,643,408. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Broadcom

A number of institutional investors have recently made changes to their positions in AVGO. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Broadcom in the 2nd quarter worth $128,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Broadcom in the 2nd quarter worth approximately $136,000. WPWealth LLP acquired a new stake in shares of Broadcom during the 2nd quarter valued at $204,000. AIMZ Investment Advisors LLC purchased a new position in shares of Broadcom during the 2nd quarter valued at $207,000. Finally, Inspire Advisors LLC acquired a new stake in Broadcom during the second quarter valued at $211,000. 76.43% of the stock is currently owned by institutional investors.

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.