Broadcom (NASDAQ:AVGO) Trading Up 1.3% – Still a Buy?

Broadcom Inc. (NASDAQ:AVGO) shares traded up 1.3% during trading on Wednesday . The company traded as high as $193.48 and last traded at $189.84. 6,995,531 shares were traded during trading, a decline of 76% from the average session volume of 29,484,367 shares. The stock had previously closed at $187.48.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AVGO shares. Piper Sandler lifted their price objective on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Mizuho reduced their price target on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday. Truist Financial increased their price objective on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. boosted their target price on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of Broadcom in a research note on Friday. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Trading Up 8.7 %

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 fifty day moving average of $223.22 and a 200-day moving average of $192.55. The firm has a market capitalization of $914.06 billion, a PE ratio of 159.06, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion during 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 firm’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 EPS. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. Broadcom’s dividend payout ratio (DPR) is 191.87%.

Insider Buying and Selling

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares of the company’s stock, valued at $26,606,317.50. The trade was a 29.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,278 shares of company stock worth $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AVGO. Wealth Group Ltd. lifted its holdings in shares of Broadcom by 900.0% during the third quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer’s stock worth $304,000 after buying an additional 1,584 shares during the last quarter. Swedbank AB increased its holdings in shares of Broadcom by 858.7% during the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after purchasing an additional 16,453,718 shares during the period. Howard Capital Management Group LLC raised its position in shares of Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after buying an additional 2,908 shares during the last quarter. Pettinga Financial Advisors LLC lifted its stake in shares of Broadcom by 896.9% in the third quarter. Pettinga Financial Advisors LLC now owns 2,911 shares of the semiconductor manufacturer’s stock valued at $502,000 after buying an additional 2,619 shares during the period. Finally, RWQ Financial Management Services Inc. grew its position in Broadcom by 2,462.3% during the third quarter. RWQ Financial Management Services Inc. now owns 10,403 shares of the semiconductor manufacturer’s stock worth $1,795,000 after buying an additional 9,997 shares in the last quarter. 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.