Broadcom (NASDAQ:AVGO) Shares Down 3.1% - What's Next?

Broadcom Inc. (NASDAQ:AVGO - Get Free Report)'s share price was down 3.1% during trading on Thursday . The stock traded as low as $157.54 and last traded at $159.67. Approximately 19,722,723 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 29,185,664 shares. The stock had previously closed at $164.74.

Analysts Set New Price Targets

Several analysts recently issued reports on AVGO shares. TD Cowen upgraded Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. 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. Mizuho boosted their price target on shares of Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. William Blair initiated coverage on shares of Broadcom in a report on Wednesday, September 18th. They set an "outperform" rating for the company. Finally, Cantor Fitzgerald increased their price target on Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. Two analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $195.96.

Broadcom Trading Down 3.1 %

The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm has a market capitalization of $745.75 billion, a PE ratio of 138.84, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. The stock's 50-day moving average price is $173.57 and its 200 day moving average price is $161.49.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter last year, the firm posted $0.95 earnings per share. The business's revenue for the quarter was up 47.3% on a year-over-year basis. On average, sell-side analysts expect that Broadcom Inc. will post 3.78 EPS 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 $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.33%. Broadcom's dividend payout ratio (DPR) is currently 184.35%.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents a 3.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 18,900 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 380,560 shares in the company, valued at $69,596,812.80. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 over the last quarter. Insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On Broadcom

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Broadcom by 166.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,316 shares of the semiconductor manufacturer's stock valued at $3,070,000 after acquiring an additional 1,446 shares during the last quarter. FSA Advisors Inc. purchased a new position in Broadcom in the 1st quarter worth approximately $264,000. Cetera Investment Advisers boosted its stake in Broadcom by 258.7% during the first quarter. Cetera Investment Advisers now owns 102,941 shares of the semiconductor manufacturer's stock worth $136,438,000 after buying an additional 74,244 shares during the last quarter. Cetera Advisors LLC grew its holdings in Broadcom by 95.3% in the 1st quarter. Cetera Advisors LLC now owns 27,454 shares of the semiconductor manufacturer's stock valued at $36,387,000 after buying an additional 13,398 shares in the last quarter. Finally, Cetera Advisor Networks LLC increased its position in Broadcom by 33.9% during the first quarter. Cetera Advisor Networks LLC now owns 57,900 shares of the semiconductor manufacturer's stock worth $76,742,000 after purchasing an additional 14,664 shares during the last quarter. 76.43% of the stock is currently 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.