Broadcom (NASDAQ:AVGO) Trading Down 0.4% – Time to Sell?

Broadcom Inc. (NASDAQ:AVGO)’s share price traded down 0.4% on Monday . The company traded as low as $163.13 and last traded at $163.56. 4,070,650 shares traded hands during trading, a decline of 86% from the average session volume of 29,184,604 shares. The stock had previously closed at $164.23.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AVGO shares. UBS Group raised their target price on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Morgan Stanley lifted their price objective on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. TD Cowen upgraded Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Cantor Fitzgerald lifted their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Benchmark restated a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $195.96.

Broadcom Trading Up 0.4 %

The stock’s 50 day moving average is $173.70 and its 200-day moving average is $160.62. The company has a market cap of $769.80 billion, a P/E ratio of 142.10, a PEG ratio of 1.93 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the prior year, the firm posted $0.95 earnings per share. The business’s revenue was up 47.3% on a year-over-year basis. Research analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.29%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is currently 184.19%.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom 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 $133,781,155.20. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gayla J. Delly sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the transaction, the director now directly owns 34,750 shares of the company’s stock, valued at $6,064,917.50. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 over the last quarter. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Broadcom

A number of institutional investors and hedge funds have recently modified their holdings of AVGO. Gamco Investors INC. ET AL increased its position in shares of Broadcom by 80.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 897 shares of the semiconductor manufacturer’s stock valued at $1,189,000 after purchasing an additional 400 shares during the last quarter. Earnest Partners LLC raised its position in Broadcom by 11.8% in the first quarter. Earnest Partners LLC now owns 208 shares of the semiconductor manufacturer’s stock worth $276,000 after acquiring an additional 22 shares during the period. Waverly Advisors LLC grew its position in shares of Broadcom by 194.0% during the 1st quarter. Waverly Advisors LLC now owns 3,587 shares of the semiconductor manufacturer’s stock valued at $4,754,000 after acquiring an additional 2,367 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of Broadcom in the 1st quarter worth $2,749,000. Finally, Kennedy Capital Management LLC bought a new position in Broadcom in the 1st quarter worth $5,723,000. 76.43% of the stock is currently owned by hedge funds and other 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.