Broadcom (NASDAQ:AVGO) Shares Down 0% - Should You Sell?

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) was down 0% on Wednesday . The company traded as low as $162.69 and last traded at $164.74. Approximately 16,308,772 shares were traded during mid-day trading, a decline of 15% from the average daily volume of 19,165,998 shares. The stock had previously closed at $164.82.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. TD Cowen upgraded Broadcom to a "strong-buy" rating in a report on Monday, September 16th. JPMorgan Chase & Co. boosted their target price on Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. The Goldman Sachs Group raised their price target on shares of Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. Rosenblatt Securities reduced their target price on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a report on Friday, September 6th. Finally, Benchmark reissued a "buy" rating and set a $210.00 price target on shares of Broadcom in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $195.96.

Broadcom Stock Down 0.0 %

The company has a fifty day moving average price of $173.76 and a 200 day moving average price of $161.09. The company has a market cap of $769.43 billion, a PE ratio of 143.13, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business's quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter last year, the company posted $0.95 EPS. As a group, analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company 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 represents a $2.12 annualized dividend and a dividend yield of 1.29%. This is a boost from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's dividend payout ratio is presently 184.19%.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 18,900 shares of the company's stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the sale, the insider now owns 380,560 shares of the company's stock, valued at $69,596,812.80. This represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Hock E. Tan sold 150,000 shares of Broadcom 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 transaction, the chief executive officer now directly owns 1,181,910 shares of the company's stock, valued at $204,399,515.40. The trade was a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Broadcom

Large investors have recently modified their holdings of the stock. Lion Street Advisors LLC increased its stake in Broadcom by 1.9% in the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer's stock worth $520,000 after buying an additional 6 shares during the period. Optimum Investment Advisors raised its holdings in Broadcom by 0.6% in the second quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer's stock worth $2,262,000 after purchasing an additional 8 shares in the last quarter. Anderson Hoagland & Co. lifted its position in shares of Broadcom by 0.3% during the second quarter. Anderson Hoagland & Co. now owns 2,667 shares of the semiconductor manufacturer's stock valued at $4,623,000 after buying an additional 9 shares during the last quarter. Wealth Group Ltd boosted its holdings in shares of Broadcom by 6.0% in the 2nd quarter. Wealth Group Ltd now owns 176 shares of the semiconductor manufacturer's stock valued at $283,000 after buying an additional 10 shares in the last quarter. Finally, Shira Ridge Wealth Management grew its position in shares of Broadcom by 6.3% in the 2nd quarter. Shira Ridge Wealth Management now owns 170 shares of the semiconductor manufacturer's stock worth $273,000 after buying an additional 10 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

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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