Broadcom (NASDAQ:AVGO) Shares Down 0.7% – Time to Sell?

Broadcom Inc. (NASDAQ:AVGO)’s stock price dropped 0.7% during trading on Friday . The company traded as low as $228.90 and last traded at $234.22. Approximately 5,246,724 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 28,101,373 shares. The stock had previously closed at $235.80.

Analysts Set New Price Targets

Several research firms recently issued reports on AVGO. Mizuho upped their price objective on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Benchmark reaffirmed a “buy” rating and issued a $255.00 price target (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. UBS Group boosted their price objective on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $240.00 price target on shares of Broadcom in a research report on Wednesday, December 11th. Finally, Evercore ISI increased their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research 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 company. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Stock Down 1.2 %

The firm has a market cap of $1.09 trillion, a price-to-earnings ratio of 190.08, a PEG ratio of 2.42 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 business’s 50-day moving average is $226.16 and its 200-day moving average is $187.02.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. On average, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current 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 given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.01%. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Insiders Place Their Bets

In related news, Director Diane M. Bryant sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the transaction, the director now owns 6,460 shares in the company, valued at $1,464,352.80. The trade was a 69.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Check Kian Low sold 48,000 shares of the 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 owns 113,050 shares in the company, valued at $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,278 shares of company stock valued at $44,964,800. Insiders own 2.00% of the company’s stock.

Institutional Trading of Broadcom

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Castleview Partners LLC lifted its holdings in Broadcom by 1,030.8% in 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. Pin Oak Investment Advisors Inc. lifted its stake in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares during the period. Canton Hathaway LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom in the 4th quarter worth $26,000. Finally, JDM Financial Group LLC grew its stake in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares during the period. 76.43% of the stock is 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.