Broadcom (NASDAQ:AVGO) Stock Price Up 1.6% Following Analyst Upgrade

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) shot up 1.6% on Monday after UBS Group raised their price target on the stock from $170.00 to $200.00. UBS Group currently has a buy rating on the stock. Broadcom traded as high as $172.07 and last traded at $171.58. 2,661,287 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 29,961,311 shares. The stock had previously closed at $168.92.

Several other research firms also recently commented on AVGO. William Blair started coverage on Broadcom in a report on Wednesday, September 18th. They set an "outperform" rating on the stock. TD Cowen upgraded shares of Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Morgan Stanley increased their price objective 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. StockNews.com downgraded shares of Broadcom from a "buy" rating to a "hold" rating in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $192.79.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business'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 completion of the transaction, the chief executive officer now directly owns 1,331,910 shares of the company's stock, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the sale, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. The trade was 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 valued at $53,540,590 over the last 90 days. Insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AVGO. Delta Asset Management LLC TN grew its holdings in 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 period. Clear Point Advisors Inc. increased its holdings in Broadcom by 310.0% in the 1st quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer's stock worth $54,000 after acquiring an additional 31 shares in the last quarter. Ruedi Wealth Management Inc. raised its position in Broadcom by 104.0% during the first quarter. Ruedi Wealth Management Inc. now owns 51 shares of the semiconductor manufacturer's stock worth $68,000 after acquiring an additional 26 shares during the period. Indiana Trust & Investment Management CO lifted its holdings in Broadcom by 39.5% during the second quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer's stock valued at $85,000 after purchasing an additional 15 shares in the last quarter. Finally, Creekmur Asset Management LLC grew its position in shares of Broadcom by 89.7% in the first quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer's stock valued at $98,000 after purchasing an additional 35 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Down 0.2 %

The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The business's 50 day moving average price is $169.12 and its 200 day moving average price is $156.30. The firm has a market cap of $787.23 billion, a PE ratio of 146.44, a PEG ratio of 2.73 and a beta of 1.17.

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

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.26%. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is presently 184.19%.

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.