Broadcom (NASDAQ:AVGO) Shares Down 0% - Here's Why

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) traded down 0% during trading on Thursday . The stock traded as low as $172.30 and last traded at $173.50. 2,913,964 shares were traded during mid-day trading, a decline of 90% from the average session volume of 29,485,158 shares. The stock had previously closed at $173.58.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AVGO. UBS Group increased their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. JPMorgan Chase & Co. upped their price target on shares of Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. Cantor Fitzgerald lifted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Morgan Stanley upped their target price on shares of Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. Finally, StockNews.com cut Broadcom from a "buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Broadcom has an average rating of "Moderate Buy" and a consensus price target of $192.79.

Broadcom Trading Down 1.4 %

The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The firm has a market cap of $799.60 billion, a price-to-earnings ratio of 150.74, a PEG ratio of 2.07 and a beta of 1.17. The company has a 50-day moving average price of $171.93 and a 200 day moving average price of $158.86.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business's revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.95 EPS. As a group, research analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This is a boost from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Thursday, September 19th. Broadcom's payout ratio is currently 184.19%.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the business's stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Charlie B. Kawwas sold 15,950 shares of the firm's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the transaction, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hock E. Tan sold 150,000 shares of the company's stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the sale, the chief executive officer now owns 1,181,910 shares of the company's stock, valued at $204,399,515.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AVGO. FMR LLC boosted its holdings in shares of Broadcom by 1,121.3% during the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer's stock worth $15,594,088,000 after buying an additional 82,998,328 shares during the period. Vanguard Group Inc. boosted its holdings in Broadcom by 3.0% during the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer's stock valued at $59,181,244,000 after acquiring an additional 1,303,462 shares during the period. Jennison Associates LLC grew its position in shares of Broadcom by 842.4% in the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer's stock valued at $6,209,758,000 after purchasing an additional 32,178,542 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Broadcom by 975.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer's stock worth $5,833,894,000 after purchasing an additional 30,674,902 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Broadcom by 962.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,997,455 shares of the semiconductor manufacturer's stock worth $5,519,591,000 after purchasing an additional 28,985,434 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.

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