Broadcom (NASDAQ:AVGO) Stock Price Down 8% – Should You Sell?

Broadcom Inc. (NASDAQ:AVGO)’s share price fell 8% during trading on Thursday . The stock traded as low as $158.17 and last traded at $158.26. 10,835,661 shares changed hands during trading, a decline of 64% from the average session volume of 30,314,692 shares. The stock had previously closed at $172.09.

Analyst Ratings Changes

AVGO has been the subject of a number of research reports. Susquehanna raised their price target on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. Jefferies Financial Group raised their target price on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Mizuho lowered their target price on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft upped their price target on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, TD Cowen upped their price target on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Stock Performance

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 stock has a fifty day simple moving average of $201.57 and a two-hundred day simple moving average of $195.95. The stock has a market capitalization of $687.85 billion, a price-to-earnings ratio of 119.32, a P/E/G ratio of 2.29 and a beta of 1.05.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were paid a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.61%. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

Insider Activity

In related news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Check Kian Low sold 48,000 shares of the company’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 owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 745,976 shares of company stock worth $138,632,902 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Broadcom

Several hedge funds have recently made changes to their positions in the company. Howard Capital Management Group LLC increased its holdings in shares of Broadcom by 2,219.8% in the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after purchasing an additional 2,908 shares during the period. Principal Financial Group Inc. increased its stake in Broadcom by 1,019.4% in the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock worth $1,238,966,000 after acquiring an additional 6,540,800 shares during the last quarter. Redwood Investment Management LLC increased its position in shares of Broadcom by 319.2% in the third quarter. Redwood Investment Management LLC now owns 3,748 shares of the semiconductor manufacturer’s stock worth $647,000 after purchasing an additional 2,854 shares during the last quarter. Quarry LP boosted its holdings in shares of Broadcom by 396.7% in the 3rd quarter. Quarry LP now owns 1,058 shares of the semiconductor manufacturer’s stock worth $183,000 after purchasing an additional 845 shares in the last quarter. Finally, Stansberry Asset Management LLC grew its position in Broadcom by 828.6% during the 3rd quarter. Stansberry Asset Management LLC now owns 2,210 shares of the semiconductor manufacturer’s stock worth $381,000 after acquiring an additional 1,972 shares during 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.