Broadcom (NASDAQ:AVGO) Trading Down 0.6% – Time to Sell?

Broadcom Inc. (NASDAQ:AVGO)’s share price was down 0.6% during trading on Thursday . The stock traded as low as $229.45 and last traded at $230.72. Approximately 5,739,410 shares changed hands during trading, a decline of 81% from the average daily volume of 30,017,725 shares. The stock had previously closed at $232.00.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Morgan Stanley cut their price objective on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Piper Sandler lifted their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Citigroup boosted their price target on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Evercore ISI raised their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Trading Down 2.8 %

The stock’s 50-day simple moving average is $219.76 and its two-hundred day simple moving average is $184.18. The firm has a market capitalization of $1.05 trillion, a P/E ratio of 183.42, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s revenue was up 51.2% on a year-over-year basis. During the same quarter last year, the business posted $0.98 earnings per share. Equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 192.50%.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the transaction, the insider now owns 321,660 shares in the company, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Broadcom

A number of hedge funds have recently added to or reduced their stakes in AVGO. State Street Corp raised its position in Broadcom by 948.5% during the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after acquiring an additional 166,844,263 shares during the period. Geode Capital Management LLC raised its holdings in shares of Broadcom by 976.6% during the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock worth $17,055,760,000 after acquiring an additional 89,975,941 shares during the period. FMR LLC grew its stake in shares of Broadcom by 1,121.3% in the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after buying an additional 82,998,328 shares during the period. Jennison Associates LLC increased its stake in Broadcom by 842.4% during the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after acquiring an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Broadcom by 975.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock worth $5,833,894,000 after purchasing an additional 30,674,902 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

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.