Broadcom (NASDAQ:AVGO) Stock Price Up 0.4% - Should You Buy?

Shares of Broadcom Inc. (NASDAQ:AVGO - Get Free Report) shot up 0.4% on Friday . The company traded as high as $191.00 and last traded at $188.83. 5,610,915 shares changed hands during trading, a decline of 82% from the average session volume of 31,885,697 shares. The stock had previously closed at $188.15.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Morgan Stanley raised their price target on Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Citigroup cut their target price on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. Mizuho lowered their price target on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Finally, Benchmark restated a "buy" rating and set a $255.00 price objective on shares of Broadcom in a 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $229.48.

Broadcom Stock Performance

The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm has a market cap of $904.23 billion, a P/E ratio of 156.86, a P/E/G ratio of 2.29 and a beta of 1.05. The company's 50 day moving average is $184.36 and its 200 day moving average is $196.09.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.23%. Broadcom's dividend payout ratio is presently 113.46%.

Broadcom declared that its Board of Directors has initiated a share repurchase plan on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Justine Page sold 800 shares of the business's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.00. Following the sale, the director now owns 25,380 shares of the company's stock, valued at $4,695,300. The trade was a 3.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $180.00, for a total value of $4,500,000.00. Following the transaction, the insider now directly owns 465,956 shares in the company, valued at $83,872,080. The trade was a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 719,776 shares of company stock worth $131,065,542 in the last ninety days. Company insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AVGO. Howard Capital Management Group LLC raised its position in shares of 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 acquiring an additional 2,908 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of 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 worth $1,238,966,000 after buying an additional 6,540,800 shares in the last quarter. Invst LLC lifted its position in shares of Broadcom by 928.6% during the 3rd quarter. Invst LLC now owns 3,024 shares of the semiconductor manufacturer's stock valued at $522,000 after acquiring an additional 2,730 shares during the period. McIlrath & Eck LLC boosted its stake in Broadcom by 793.3% during the third quarter. McIlrath & Eck LLC now owns 402 shares of the semiconductor manufacturer's stock worth $69,000 after acquiring an additional 357 shares in the last quarter. Finally, Passumpsic Savings Bank boosted its position in shares of Broadcom by 900.9% during the 3rd quarter. Passumpsic Savings Bank now owns 15,904 shares of the semiconductor manufacturer's stock worth $2,743,000 after purchasing an additional 14,315 shares in 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.