Broadcom (NASDAQ:AVGO) Trading Up 0.9% – What’s Next?

Shares of Broadcom Inc. (NASDAQ:AVGO) traded up 0.9% during trading on Friday . The stock traded as high as $200.56 and last traded at $199.56. 11,180,872 shares changed hands during trading, a decline of 59% from the average session volume of 27,243,230 shares. The stock had previously closed at $197.80.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several recent analyst reports. Piper Sandler upped their target price on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Mizuho upped their price objective on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Susquehanna lifted their target price 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 lowered their price target on Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Bank of America increased their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $225.04.

Broadcom Trading Up 0.8 %

The stock has a market cap of $934.16 billion, a PE ratio of 162.56, a PEG ratio of 2.29 and a beta of 1.02. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a fifty day moving average price of $227.44 and a 200 day moving average price of $192.11.

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

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is 191.87%.

Insiders Place Their Bets

In related news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares in the company, valued at $7,308,000. This trade represents a 17.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 over the last 90 days. Insiders own 2.00% of the company’s stock.

Institutional Trading of Broadcom

Several institutional investors and hedge funds have recently modified their holdings of AVGO. KFA Private Wealth Group LLC raised its position in Broadcom by 2.5% during the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock valued at $407,000 after purchasing an additional 42 shares in the last quarter. Dakota Community Bank & Trust NA grew its position in shares of Broadcom by 2.7% during the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock worth $391,000 after buying an additional 45 shares in the last quarter. Bryant Woods Investment Advisors LLC increased its stake in shares of Broadcom by 3.5% during the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock valued at $305,000 after buying an additional 45 shares during the period. Marest Capital LLC raised its holdings in shares of Broadcom by 1.0% in the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after acquiring an additional 46 shares in the last quarter. Finally, Defined Wealth Management LLC lifted its stake in Broadcom by 0.4% in the fourth quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after acquiring an additional 47 shares during the period. Institutional investors own 76.43% of the company’s stock.

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.