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

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) shares were down 3.1% on Friday . The company traded as low as $157.54 and last traded at $159.67. Approximately 19,722,723 shares traded hands during mid-day trading, an increase of 4% from the average daily volume of 18,886,884 shares. The stock had previously closed at $164.74.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AVGO shares. Mizuho upped their target price on Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. Benchmark restated a "buy" rating and issued a $210.00 target price on shares of Broadcom in a research report on Friday, September 6th. William Blair started coverage on Broadcom in a research report on Wednesday, September 18th. They issued an "outperform" rating for the company. Morgan Stanley upped their target price on Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. upped their target price on Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus price target of $195.96.

Broadcom Stock Performance

The firm's 50 day simple moving average is $173.39 and its 200-day simple moving average is $161.69. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a market capitalization of $757.01 billion, a price-to-earnings ratio of 140.82, a P/E/G ratio of 1.88 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the previous year, the business earned $0.95 EPS. The company's revenue was up 47.3% on a year-over-year basis. Analysts expect that Broadcom Inc. will post 3.78 EPS for the current 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 paid 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 1.31%. Broadcom's dividend payout ratio is 184.19%.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 15,950 shares of the company's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares of the company's stock, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 150,000 shares of the company's stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,181,910 shares in the company, valued at $204,399,515.40. This trade represents a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Broadcom

Hedge funds have recently bought and sold shares of the business. AXA S.A. increased its position in Broadcom by 2.7% during the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer's stock worth $467,334,000 after buying an additional 7,608 shares during the last quarter. Catalyst Financial Partners LLC increased its position in Broadcom by 943.3% during the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer's stock worth $3,473,000 after buying an additional 18,206 shares during the last quarter. Whittier Trust Co. boosted its holdings in Broadcom by 947.2% during the third quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer's stock valued at $119,000,000 after acquiring an additional 623,983 shares during the period. Summit Place Financial Advisors LLC boosted its holdings in Broadcom by 912.6% during the third quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer's stock valued at $1,691,000 after acquiring an additional 8,834 shares during the period. Finally, Signaturefd LLC boosted its holdings in Broadcom by 913.0% during the third quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer's stock valued at $13,624,000 after acquiring an additional 71,181 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

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.