Brokerages Set Broadcom Inc. (NASDAQ:AVGO) Price Target at $231.28

Shares of Broadcom Inc. (NASDAQ:AVGO - Get Free Report) have received an average recommendation of "Moderate Buy" from the twenty-seven analysts that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $229.48.

Several analysts have weighed in on the stock. Barclays lowered their price target on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a research note on Tuesday. Morgan Stanley raised their price target on Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Citigroup cut their target price on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, William Blair reiterated an "outperform" rating on shares of Broadcom in a report on Friday, March 7th.

Insider Transactions at Broadcom

In related news, Director Justine Page sold 800 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the completion of the sale, the director now directly owns 25,380 shares in the company, valued at approximately $4,695,300. The trade was a 3.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the transaction, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 719,776 shares of company stock worth $131,065,542 in the last ninety days. Insiders own 2.00% of the company's stock.

Institutional Trading of Broadcom

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Canton Hathaway LLC purchased a new position in Broadcom during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom during the 4th quarter valued at $26,000. Sunbeam Capital Management LLC bought a new position in Broadcom in the 4th quarter worth $28,000. Vermillion Wealth Management Inc. purchased a new stake in Broadcom in the 4th quarter worth $30,000. Finally, Sellwood Investment Partners LLC bought a new stake in Broadcom during the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Trading Up 0.4 %

Shares of AVGO traded up $0.69 during mid-day trading on Tuesday, reaching $188.84. The company's stock had a trading volume of 6,471,717 shares, compared to its average volume of 31,223,489. Broadcom has a 52 week low of $122.33 and a 52 week high of $251.88. The stock has a market cap of $887.92 billion, a PE ratio of 153.75, a P/E/G ratio of 2.29 and a beta of 1.05. The company's fifty day moving average price is $185.09 and its two-hundred day moving average price is $195.94. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.25%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio is currently 113.46%.

Broadcom declared that its board has authorized a stock repurchase plan on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

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.