Broadcom (NASDAQ:AVGO) Trading Up 1.7% – Should You Buy?

Shares of Broadcom Inc. (NASDAQ:AVGO) shot up 1.7% during mid-day trading on Monday . The stock traded as high as $196.69 and last traded at $194.85. 8,987,961 shares traded hands during trading, a decline of 69% from the average session volume of 28,869,506 shares. The stock had previously closed at $191.66.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Susquehanna lifted their price target on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Morgan Stanley boosted their price objective on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Barclays upped their target price on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Finally, Jefferies Financial Group upped their price objective 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. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Stock Up 0.2 %

The firm has a 50-day moving average of $214.38 and a two-hundred day moving average of $195.37. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $903.35 billion, a PE ratio of 156.69, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 45,000 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was 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 directly owns 842,836 shares in the company, valued at $202,246,926.56. This trade represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. This represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 157,168 shares of company stock valued at $37,108,677 over the last 90 days. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AVGO. Canton Hathaway LLC purchased a new position in Broadcom in the 4th quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at $26,000. Sunbeam Capital Management LLC purchased a new position in Broadcom in the fourth quarter valued at $28,000. Vermillion Wealth Management Inc. acquired a new position in Broadcom during the 4th quarter worth $30,000. Finally, Sellwood Investment Partners LLC purchased a new stake in Broadcom during the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

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.