Broadcom (NASDAQ:AVGO) Shares Down 0.2% - What's Next?

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) shares dropped 0.2% on Friday . The company traded as low as $181.83 and last traded at $183.50. Approximately 3,454,523 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 29,736,805 shares. The stock had previously closed at $183.81.

Analyst Ratings Changes

AVGO has been the subject of a number of recent analyst reports. Benchmark reiterated a "buy" rating and issued a $210.00 price target on shares of Broadcom in a research report on Friday, September 6th. UBS Group upped their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday. JPMorgan Chase & Co. upped their target price 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. Oppenheimer lowered their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, July 16th. Finally, William Blair initiated coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an "outperform" rating for the company. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus price target of $192.79.

Broadcom Trading Down 0.1 %

The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company's fifty day simple moving average is $169.80 and its 200-day simple moving average is $156.94. The company has a market capitalization of $857.57 billion, a P/E ratio of 159.43, a PEG ratio of 1.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. During the same period in the prior year, the business earned $0.95 EPS. The firm's quarterly revenue was up 47.3% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 3.78 earnings per share 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 $0.53 dividend. This is a boost from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio (DPR) is currently 184.19%.

Insider Activity

In other news, insider Mark David Brazeal sold 20,280 shares of the firm's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the sale, the insider now directly owns 399,460 shares in the company, valued at approximately $70,744,366. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the business's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the sale, the insider now owns 399,460 shares of the company's stock, valued at approximately $70,744,366. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Hock E. Tan sold 150,000 shares of the firm'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 transaction, the chief executive officer now directly owns 1,181,910 shares of the company's stock, valued at approximately $204,399,515.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 311,080 shares of company stock worth $53,540,590. Corporate insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. AXA S.A. raised its position in Broadcom by 2.7% during the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer's stock worth $467,334,000 after buying an additional 7,608 shares during the last quarter. Catalyst Financial Partners LLC raised its holdings in shares of Broadcom by 943.3% during the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer's stock worth $3,473,000 after purchasing an additional 18,206 shares during the last quarter. Whittier Trust Co. lifted its position in Broadcom by 947.2% during the third quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer's stock valued at $119,000,000 after purchasing an additional 623,983 shares during the period. Summit Place Financial Advisors LLC boosted its holdings in Broadcom by 912.6% in the third quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer's stock valued at $1,691,000 after purchasing an additional 8,834 shares during the last quarter. Finally, Signaturefd LLC grew its position in Broadcom by 913.0% during the 3rd quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer's stock worth $13,624,000 after purchasing an additional 71,181 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.