Broadcom (NASDAQ:AVGO) Trading Up 1.7% - Here's Why

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) was up 1.7% during mid-day trading on Monday . The company traded as high as $196.69 and last traded at $194.85. 8,987,961 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 28,869,506 shares. The stock had previously closed at $191.66.

Analysts Set New Price Targets

Several analysts have issued reports on AVGO shares. Morgan Stanley boosted their price objective on Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. William Blair reaffirmed an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. KeyCorp boosted their price target on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Piper Sandler raised their target price on Broadcom from $200.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Finally, Barclays increased their target price on shares of Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus price target of $231.48.

Broadcom Stock Down 4.1 %

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 firm has a market cap of $807.98 billion, a price-to-earnings ratio of 140.16, a P/E/G ratio of 2.29 and a beta of 1.01. The stock has a 50-day moving average of $211.99 and a 200-day moving average of $195.88.

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Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Thursday, March 20th. Broadcom's dividend payout ratio is 113.46%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the transaction, the insider now owns 696,730 shares of the company's stock, valued at $161,627,425.40. This represents a 5.43 % decrease in their position. 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 the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction 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 have sold 122,000 shares of company stock worth $27,334,060 over the last quarter. Corporate insiders own 2.00% of the company's stock.

Institutional Trading of Broadcom

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVGO. Central Pacific Bank Trust Division lifted its position in shares of Broadcom by 21.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer's stock valued at $4,858,000 after purchasing an additional 3,707 shares in the last quarter. Wolff Financial Management LLC purchased a new position in shares of Broadcom in the 4th quarter worth approximately $244,000. Strait & Sound Wealth Management LLC grew its holdings in shares of Broadcom by 829.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer's stock valued at $1,371,000 after acquiring an additional 7,095 shares in the last quarter. Motive Wealth Advisors increased its position in shares of Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock valued at $1,066,000 after acquiring an additional 4,209 shares during the last quarter. Finally, Tidal Investments LLC lifted its holdings in Broadcom by 969.3% during the third quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer's stock worth $66,696,000 after acquiring an additional 350,485 shares during the period. 76.43% of the stock is owned by institutional investors.

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.