Broadcom (NASDAQ:AVGO) Trading Up 1.9% - What's Next?

Broadcom Inc. (NASDAQ:AVGO - Get Free Report)'s share price traded up 1.9% during mid-day trading on Thursday . The stock traded as high as $238.60 and last traded at $232.35. 8,868,240 shares traded hands during trading, a decline of 62% from the average session volume of 23,090,807 shares. The stock had previously closed at $228.00.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Jefferies Financial Group increased their price objective on Broadcom from $205.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Robert W. Baird increased their price target on shares of Broadcom from $195.00 to $210.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Susquehanna lifted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company a "positive" rating in a research note on Friday, December 13th. Benchmark reissued a "buy" rating and set a $255.00 target price (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Finally, Morgan Stanley boosted their price target on Broadcom from $233.00 to $265.00 and gave the stock an "overweight" rating in a research report on Friday, December 20th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $223.54.

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Broadcom Stock Performance

The stock has a market cap of $1.08 trillion, a price-to-earnings ratio of 187.12, a PEG ratio of 2.35 and a beta of 1.03. The firm has a fifty day simple moving average of $200.02 and a 200 day simple moving average of $177.11. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the company posted $0.98 earnings per share. Broadcom's revenue was up 51.2% on a year-over-year basis. As a group, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.03%. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is presently 192.50%.

Insiders Place Their Bets

In related news, Director Harry L. You sold 6,540 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares in the company, valued at $7,308,000. This trade represents a 17.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of the business's stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the sale, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 over the last quarter. Company insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Broadcom

Institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Trust Co boosted its holdings in shares of Broadcom by 6.9% in the 4th quarter. Charles Schwab Trust Co now owns 26,810 shares of the semiconductor manufacturer's stock worth $6,216,000 after acquiring an additional 1,720 shares in the last quarter. Aspiriant LLC boosted its stake in Broadcom by 6.2% in the fourth quarter. Aspiriant LLC now owns 11,477 shares of the semiconductor manufacturer's stock worth $2,661,000 after purchasing an additional 672 shares in the last quarter. Ballentine Partners LLC boosted its stake in Broadcom by 8.5% in the fourth quarter. Ballentine Partners LLC now owns 82,265 shares of the semiconductor manufacturer's stock worth $19,072,000 after purchasing an additional 6,474 shares in the last quarter. Atwood & Palmer Inc. grew its holdings in shares of Broadcom by 10.2% during the fourth quarter. Atwood & Palmer Inc. now owns 2,182 shares of the semiconductor manufacturer's stock worth $506,000 after purchasing an additional 202 shares during the last quarter. Finally, Tudor Financial Inc. acquired a new stake in shares of Broadcom in the fourth quarter valued at $289,000. 76.43% of the stock is owned by institutional investors.

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.