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

Broadcom Inc. (NASDAQ:AVGO)’s stock price was down 0.4% on Wednesday . The stock traded as low as $224.40 and last traded at $227.60. Approximately 4,590,267 shares traded hands during trading, a decline of 83% from the average daily volume of 27,674,430 shares. The stock had previously closed at $228.53.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of recent analyst reports. Susquehanna increased their target price on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and set a $240.00 target price on shares of Broadcom in a research report on Wednesday, December 11th. Piper Sandler upped their target price on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Barclays lifted their price target on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Evercore ISI increased their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $225.04.

Broadcom Stock Down 0.8 %

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 184.66, a price-to-earnings-growth ratio of 2.44 and a beta of 1.02. The firm’s 50-day simple moving average is $228.38 and its two-hundred day simple moving average is $188.72.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share 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 analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s revenue was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS. Sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.04%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

Insider Buying and Selling

In other Broadcom news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the transaction, the director now owns 113,050 shares in the company, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Harry L. You sold 6,540 shares of the company’s 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 directly owns 30,450 shares in the company, valued at $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Broadcom

Several hedge funds have recently bought and sold shares of AVGO. Canton Hathaway LLC purchased a new stake in Broadcom during the 4th quarter worth about $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom during the fourth quarter worth about $26,000. Sellwood Investment Partners LLC acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $32,000. Bellevue Asset Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $33,000. Finally, Castleview Partners LLC lifted its stake in shares of Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 134 shares during the period. Hedge funds and other 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.