Broadcom (NASDAQ:AVGO) Trading Down 0.5% - Time to Sell?

Shares of Broadcom Inc. (NASDAQ:AVGO - Get Free Report) dropped 0.5% during trading on Friday . The company traded as low as $187.37 and last traded at $189.64. Approximately 8,232,617 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 29,037,497 shares. The stock had previously closed at $190.54.

Analyst Ratings Changes

A number of brokerages have issued reports on AVGO. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $210.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. Jefferies Financial Group lifted 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. William Blair reissued an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Mizuho cut their price objective on Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th. Finally, Bank of America increased their target price on Broadcom from $215.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, Broadcom has an average rating of "Moderate Buy" and an average target price of $231.48.

Broadcom Stock Performance

The company has a market cap of $903.33 billion, a P/E ratio of 157.17, a P/E/G ratio of 2.29 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The business has a fifty day simple moving average of $214.38 and a two-hundred day simple moving average of $195.37.

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Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Thursday, March 20th. Broadcom's payout ratio is 113.46%.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of the business's stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the sale, the chief executive officer now owns 842,836 shares of the company's stock, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the firm's stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,168 shares of company stock valued at $37,108,677. Insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Broadcom

A number of hedge funds have recently modified their holdings of the company. Swedbank AB boosted its stake in shares of Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock worth $3,168,798,000 after acquiring an additional 16,453,718 shares during the period. Howard Capital Management Group LLC boosted its stake in Broadcom by 2,219.8% in the 3rd 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. grew its holdings in Broadcom by 1,019.4% during the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock valued at $1,238,966,000 after buying an additional 6,540,800 shares in the last quarter. Quest Partners LLC raised its position in shares of Broadcom by 3,295.8% during the third quarter. Quest Partners LLC now owns 815 shares of the semiconductor manufacturer's stock valued at $141,000 after buying an additional 791 shares during the last quarter. Finally, Altman Advisors Inc. lifted its holdings in shares of Broadcom by 895.4% in the third quarter. Altman Advisors Inc. now owns 20,017 shares of the semiconductor manufacturer's stock worth $3,453,000 after buying an additional 18,006 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

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.