Broadcom (NASDAQ:AVGO) Trading Up 1% - Should You Buy?

Broadcom Inc. (NASDAQ:AVGO - Get Free Report)'s share price rose 1% during mid-day trading on Tuesday . The company traded as high as $174.40 and last traded at $173.81. Approximately 3,288,695 shares were traded during trading, a decline of 89% from the average daily volume of 30,128,418 shares. The stock had previously closed at $172.02.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of recent research reports. Morgan Stanley upped their price target on shares of Broadcom from $176.00 to $180.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. William Blair began coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an "outperform" rating on the stock. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Mizuho increased their target price on shares of Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. Finally, Truist Financial increased their target price on shares of Broadcom from $204.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $191.54.

Broadcom Trading Up 4.2 %

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's fifty day simple moving average is $168.26 and its 200-day simple moving average is $154.95. The company has a market capitalization of $834.34 billion, a P/E ratio of 7.48, a PEG ratio of 2.99 and a beta of 1.17.

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

Broadcom Increases Dividend

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

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Mark David Brazeal sold 20,280 shares of the 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 of the company's stock, valued at $70,744,366. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 1,331,910 shares of the company's stock, valued at $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Broadcom

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Lion Street Advisors LLC raised its position in Broadcom by 1.9% during the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer's stock worth $520,000 after buying an additional 6 shares during the last quarter. Ascent Wealth Partners LLC raised its position in Broadcom by 0.3% during the 1st quarter. Ascent Wealth Partners LLC now owns 2,964 shares of the semiconductor manufacturer's stock worth $3,929,000 after buying an additional 8 shares during the last quarter. O Dell Group LLC raised its position in Broadcom by 2.3% during the 1st quarter. O Dell Group LLC now owns 356 shares of the semiconductor manufacturer's stock worth $472,000 after buying an additional 8 shares during the last quarter. Hudson Value Partners LLC raised its position in Broadcom by 2.7% during the 1st quarter. Hudson Value Partners LLC now owns 308 shares of the semiconductor manufacturer's stock worth $408,000 after buying an additional 8 shares during the last quarter. Finally, Renasant Bank raised its position in Broadcom by 1.0% during the 1st quarter. Renasant Bank now owns 785 shares of the semiconductor manufacturer's stock worth $1,040,000 after buying an additional 8 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

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.