Broadcom (NASDAQ:AVGO) Shares Down 3.8% - What's Next?

Broadcom Inc. (NASDAQ:AVGO - Get Free Report)'s share price traded down 3.8% during mid-day trading on Monday . The company traded as low as $163.50 and last traded at $164.52. 4,182,204 shares were traded during trading, a decline of 87% from the average session volume of 31,233,874 shares. The stock had previously closed at $170.99.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AVGO shares. Benchmark reiterated a "buy" rating and set a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Barclays reduced their target price on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a research note on Tuesday. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research report on Friday, March 7th. Rosenblatt Securities reiterated a "buy" rating and set a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, Truist Financial raised their price objective on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. According to data from MarketBeat.com, Broadcom currently has an average rating of "Moderate Buy" and a consensus target price of $229.48.

Broadcom Trading Up 3.9 %

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market capitalization of $864.54 billion, a price-to-earnings ratio of 149.73, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. The business has a fifty day moving average of $185.99 and a 200-day moving average of $195.85.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's payout ratio is 113.46%.

Broadcom announced that its board has authorized a stock repurchase plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Insider Transactions at Broadcom

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the transaction, the director now directly owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the sale, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 719,776 shares of company stock worth $131,065,542 in the last quarter. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Canton Hathaway LLC purchased a new position in Broadcom during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom in the fourth quarter worth $26,000. Inlight Wealth Management LLC purchased a new position in shares of Broadcom in the first quarter worth $26,000. Sunbeam Capital Management LLC purchased a new position in Broadcom during the 4th quarter valued at $28,000. Finally, Vermillion Wealth Management Inc. purchased a new position in Broadcom during the 4th quarter valued at $30,000. Institutional investors own 76.43% of the company's stock.

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.