Broadcom (NASDAQ:AVGO) Shares Down 0.8% – Time to Sell?

Broadcom Inc. (NASDAQ:AVGO) traded down 0.8% on Thursday . The company traded as low as $220.80 and last traded at $221.85. 12,754,476 shares changed hands during trading, a decline of 57% from the average session volume of 29,987,789 shares. The stock had previously closed at $223.62.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AVGO. JPMorgan Chase & Co. upped their price objective on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Robert W. Baird upped their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Bank of America lifted their price objective on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. William Blair initiated coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, UBS Group increased their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $220.54.

Broadcom Stock Performance

The stock’s 50 day moving average is $178.05 and its two-hundred day moving average is $166.48. The firm has a market capitalization of $1.03 trillion, a P/E ratio of 192.44, a P/E/G ratio of 2.15 and a beta of 1.13. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the previous year, the company posted $0.98 EPS. The business’s revenue for the quarter was up 51.2% compared to the same quarter last year. As a group, equities analysts anticipate that Broadcom Inc. will post 3.79 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be issued a dividend of $0.59 per share. The ex-dividend date is Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.07%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 191.87%.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares in the company, valued at $69,596,812.80. This represents a 4.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 235,880 shares of company stock worth $41,131,686. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Broadcom

Several institutional investors and hedge funds have recently modified their holdings of the business. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Broadcom during the second quarter worth $128,000. Mark Sheptoff Financial Planning LLC bought a new position in Broadcom during the 2nd quarter worth about $136,000. American Capital Advisory LLC acquired a new stake in shares of Broadcom in the 2nd quarter valued at about $169,000. Semus Wealth Partners LLC bought a new stake in shares of Broadcom in the second quarter valued at about $202,000. Finally, Palisades Hudson Asset Management L.P. bought a new position in shares of Broadcom during the second quarter worth about $204,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

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.