Broadcom (NASDAQ:AVGO) Trading Up 0.4% Following Analyst Upgrade

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) was up 0.4% on Monday after Mizuho raised their price target on the stock from $190.00 to $220.00. Mizuho currently has an outperform rating on the stock. Broadcom traded as high as $184.95 and last traded at $182.13. Approximately 3,986,113 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 30,784,887 shares. The stock had previously closed at $181.48.

Other equities research analysts have also issued research reports about the company. Bank of America reissued a "buy" rating and issued a $215.00 target price (up previously from $200.00) on shares of Broadcom in a research note on Monday, June 24th. UBS Group reduced their price target on Broadcom from $173.50 to $170.00 and set a "buy" rating on the stock in a report on Monday, September 9th. Morgan Stanley boosted their price target on Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Truist Financial boosted their price target on Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Finally, Rosenblatt Securities reduced their price target on Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $191.54.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 20,280 shares of the company's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the transaction, the insider now directly owns 399,460 shares of the company's stock, valued at approximately $70,744,366. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Gayla J. Delly sold 750 shares of the company's stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the transaction, the director now directly owns 34,750 shares of the company's stock, valued at approximately $6,064,917.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 20,280 shares of the company's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the transaction, the insider now directly owns 399,460 shares in the company, valued at $70,744,366. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 295,130 shares of company stock worth $50,646,622 in the last 90 days. Insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Broadcom

Hedge funds and other institutional investors have recently modified their holdings of the company. Legend Financial Advisors Inc. lifted its holdings in shares of Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 8 shares during the period. Richardson Capital Management LLC purchased a new stake in Broadcom in the 1st quarter worth $29,000. Delta Asset Management LLC TN increased its stake in Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock worth $32,000 after buying an additional 17 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new stake in Broadcom in the 1st quarter worth $36,000. Finally, Creekmur Asset Management LLC purchased a new stake in Broadcom in the 4th quarter worth $43,000. 76.43% of the stock is owned by institutional investors.

Broadcom Price Performance

The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm has a market cap of $848.63 billion, a PE ratio of 7.83, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The stock has a 50 day simple moving average of $162.91 and a 200-day simple moving average of $151.64.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business's quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 earnings per share. Equities analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This is a positive change from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.16%. Broadcom's dividend payout ratio (DPR) is presently 9.12%.

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.