Broadcom Inc. (NASDAQ:AVGO) Short Interest Update

Broadcom Inc. (NASDAQ:AVGO) was the recipient of a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 56,950,000 shares, a decrease of 16.9% from the December 31st total of 68,550,000 shares. Based on an average daily volume of 28,120,000 shares, the days-to-cover ratio is presently 2.0 days.

Broadcom Trading Up 4.5 %

Shares of NASDAQ AVGO traded up $9.31 during trading hours on Thursday, reaching $215.66. The stock had a trading volume of 42,362,976 shares, compared to its average volume of 31,406,502. The business’s fifty day moving average price is $211.24 and its two-hundred day moving average price is $181.27. The firm has a market cap of $1.01 trillion, a price-to-earnings ratio of 175.91, a P/E/G ratio of 2.52 and a beta of 1.03. Broadcom has a 52-week low of $117.43 and a 52-week high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

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

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.09%. Broadcom’s payout ratio is 191.87%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Barclays boosted their price target on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. TD Cowen raised their price objective on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Bank of America lifted their target price on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Robert W. Baird increased their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $225.04.

Insider Activity

In related news, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the transaction, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares of the company’s stock, valued at $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 in the last quarter. 2.00% of the stock is currently owned by insiders.

Institutional Trading of Broadcom

Several hedge funds and other institutional investors have recently bought and sold shares of AVGO. Valmark Advisers Inc. raised its position in shares of Broadcom by 3.2% in the 4th quarter. Valmark Advisers Inc. now owns 7,136 shares of the semiconductor manufacturer’s stock worth $1,654,000 after acquiring an additional 218 shares in the last quarter. MOKAN Wealth Management Inc. bought a new stake in shares of Broadcom in the 4th quarter valued at about $7,008,000. Copperleaf Capital LLC purchased a new position in shares of Broadcom in the 4th quarter worth approximately $257,000. VeraBank N.A. raised its stake in shares of Broadcom by 1.6% during the 4th quarter. VeraBank N.A. now owns 5,110 shares of the semiconductor manufacturer’s stock worth $1,185,000 after acquiring an additional 80 shares in the last quarter. Finally, MN Wealth Advisors LLC lifted its position in Broadcom by 4.2% during the fourth quarter. MN Wealth Advisors LLC now owns 6,303 shares of the semiconductor manufacturer’s stock valued at $1,461,000 after acquiring an additional 255 shares during the last quarter. 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.