Broadcom (NASDAQ:AVGO) Shares Up 0.5% - Time to Buy?

Shares of Broadcom Inc. (NASDAQ:AVGO - Get Free Report) were up 0.5% during mid-day trading on Friday . The stock traded as high as $182.71 and last traded at $182.39. Approximately 4,756,222 shares traded hands during trading, a decline of 84% from the average daily volume of 30,601,725 shares. The stock had previously closed at $181.53.

Analyst Ratings Changes

A number of research firms have weighed in on AVGO. Benchmark restated a "buy" rating and set a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. StockNews.com lowered Broadcom from a "buy" rating to a "hold" rating in a research note on Tuesday, July 23rd. Oppenheimer decreased their price target on shares of Broadcom from $2,000.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, July 16th. Mizuho lifted their price objective on shares of Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, Bank of America reissued a "buy" rating and set a $215.00 target price (up previously from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and a consensus price target of $191.54.

Broadcom Price Performance

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 firm has a market cap of $837.37 billion, a PE ratio of 7.84, 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 $165.88 and a two-hundred day simple moving average of $152.92.

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

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This is a positive change from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's dividend payout ratio is presently 9.12%.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares of the company's stock, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares of the company's stock, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gayla J. Delly sold 750 shares of the business's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the sale, the director now directly owns 34,750 shares of the company's stock, valued at $6,064,917.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 in the last 90 days. Corporate insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Broadcom

Several hedge funds and other institutional investors have recently made changes to their positions in AVGO. Legend Financial Advisors Inc. grew its stake in 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 acquiring an additional 8 shares in the last quarter. Richardson Capital Management LLC acquired a new stake in shares of Broadcom in the first quarter valued at approximately $29,000. Delta Asset Management LLC TN increased its holdings in shares of Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock valued at $32,000 after purchasing an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new position in Broadcom during the first quarter worth $36,000. Finally, St. Johns Investment Management Company LLC grew its holdings in Broadcom by 4,000.0% in the 1st quarter. St. Johns Investment Management Company LLC now owns 41 shares of the semiconductor manufacturer's stock valued at $54,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

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.