Broadcom (NASDAQ:AVGO) Stock Price Up 1.6% - What's Next?

Broadcom Inc. (NASDAQ:AVGO - Get Free Report)'s share price rose 1.6% on Wednesday . The company traded as high as $230.34 and last traded at $228.25. Approximately 5,129,614 shares were traded during trading, a decline of 78% from the average daily volume of 22,820,629 shares. The stock had previously closed at $224.70.

Analysts Set New Price Targets

AVGO has been the subject of a number of analyst reports. Piper Sandler upped their target price on Broadcom from $200.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Citigroup upped their target price on Broadcom from $175.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Susquehanna upped their target price on Broadcom from $200.00 to $225.00 and gave the stock a "positive" rating in a report on Friday, December 13th. JPMorgan Chase & Co. upped their price target on Broadcom from $210.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Finally, Evercore ISI upped their price target on Broadcom from $201.00 to $250.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, Broadcom currently has an average rating of "Moderate Buy" and a consensus price target of $223.54.

Broadcom Price Performance

The stock has a 50 day simple moving average of $199.05 and a two-hundred day simple moving average of $176.63. The firm has a market cap of $1.07 trillion, a PE ratio of 197.89, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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 30.12% and a net margin of 10.88%. The firm had revenue of $14.05 billion for the quarter, compared to analysts' expectations of $14.07 billion. During the same period last year, the firm earned $0.98 EPS. The company's quarterly revenue was up 51.2% on a year-over-year basis. Sell-side analysts expect that Broadcom Inc. will post 3.79 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. Stockholders of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom's previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.04%. Broadcom's dividend payout ratio (DPR) is 191.87%.

Insider Activity

In related news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 in the last ninety days. Company insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On Broadcom

Several institutional investors have recently bought and sold shares of AVGO. Central Pacific Bank Trust Division lifted its stake in Broadcom by 21.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer's stock worth $4,858,000 after purchasing an additional 3,707 shares in the last quarter. AXA S.A. lifted its stake in Broadcom by 2.7% in the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer's stock worth $467,334,000 after purchasing an additional 7,608 shares in the last quarter. Strait & Sound Wealth Management LLC lifted its stake in Broadcom by 829.8% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer's stock worth $1,371,000 after purchasing an additional 7,095 shares in the last quarter. Catalyst Financial Partners LLC lifted its stake in Broadcom by 943.3% in the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer's stock worth $3,473,000 after purchasing an additional 18,206 shares in the last quarter. Finally, Whittier Trust Co. lifted its stake in Broadcom by 947.2% in the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer's stock worth $119,000,000 after purchasing an additional 623,983 shares in 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.

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