Broadcom (NASDAQ:AVGO) Trading Down 1.3% – What’s Next?

Broadcom Inc. (NASDAQ:AVGO) fell 1.3% on Thursday . The stock traded as low as $231.10 and last traded at $233.26. 5,160,654 shares traded hands during trading, a decline of 82% from the average session volume of 28,355,289 shares. The stock had previously closed at $236.35.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup raised their price target on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Truist Financial lifted their target price on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and set a $240.00 price target on shares of Broadcom in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Susquehanna boosted their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Trading Down 1.2 %

The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company has a market cap of $1.09 trillion, a P/E ratio of 190.08, a PEG ratio of 2.42 and a beta of 1.02. The stock’s 50 day moving average is $226.16 and its 200-day moving average is $187.02.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share 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 firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the prior year, the business earned $0.98 EPS. The business’s quarterly revenue was up 51.2% on a year-over-year basis. Research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. 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 1.01%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is 192.50%.

Insider Buying and Selling at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the transaction, the director now directly owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This 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 in the last three months. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Broadcom

A number of institutional investors have recently bought and sold shares of AVGO. Central Pacific Bank Trust Division lifted its position in shares of Broadcom by 21.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after purchasing an additional 3,707 shares during the last quarter. Wolff Financial Management LLC purchased a new stake in Broadcom in the fourth quarter worth about $244,000. Strait & Sound Wealth Management LLC lifted its stake in Broadcom by 829.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after acquiring an additional 7,095 shares during the period. Catalyst Financial Partners LLC raised its holdings in Broadcom by 943.3% in the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after purchasing an additional 18,206 shares in the last quarter. Finally, Motive Wealth Advisors raised its holdings in Broadcom by 1,076.5% in the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after purchasing an additional 4,209 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

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.