Broadcom (NASDAQ:AVGO) Stock Price Down 0.7% - Should You Sell?

Broadcom Inc. (NASDAQ:AVGO - Get Free Report)'s stock price traded down 0.7% during mid-day trading on Tuesday . The stock traded as low as $177.41 and last traded at $178.70. 2,661,712 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 30,445,967 shares. The stock had previously closed at $179.99.

Analyst Ratings Changes

A number of equities research analysts have commented on AVGO shares. JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. Bank of America reiterated a "buy" rating and set a $215.00 price objective (up previously from $200.00) on shares of Broadcom in a report on Monday, June 24th. Rosenblatt Securities cut 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. Benchmark restated a "buy" rating and set a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Finally, Mizuho raised their price objective on Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus price target of $191.54.

Broadcom Stock Down 0.3 %

The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The company has a market cap of $834.99 billion, a price-to-earnings ratio of 7.72, a PEG ratio of 2.99 and a beta of 1.17. The business has a 50-day simple moving average of $167.61 and a two-hundred day simple moving average of $153.88.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating 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 business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the previous year, the firm earned $0.95 EPS. Broadcom's quarterly revenue was up 47.3% on a year-over-year basis. As a group, equities analysts forecast 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. Investors of record on Thursday, September 19th were issued a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.18%. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is currently 9.12%.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 18,900 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the transaction, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Mark David Brazeal sold 18,900 shares of the company's stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the sale, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. 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 Charlie B. Kawwas sold 15,950 shares of the firm's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the sale, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. This trade represents 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. Company insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On Broadcom

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Broadcom by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer's stock worth $59,181,244,000 after buying an additional 1,303,462 shares during the last quarter. Swedbank AB lifted its holdings in Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock worth $3,168,798,000 after purchasing an additional 16,453,718 shares in the last quarter. Raymond James & Associates lifted its stake in Broadcom by 855.4% in the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer's stock worth $2,186,292,000 after purchasing an additional 11,347,563 shares in the last quarter. Jennison Associates LLC boosted its stake in Broadcom by 43.9% during the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer's stock valued at $5,488,556,000 after buying an additional 1,263,957 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Broadcom by 2.2% in the second quarter. Legal & General Group Plc now owns 3,963,063 shares of the semiconductor manufacturer's stock valued at $6,362,816,000 after purchasing an additional 83,846 shares in the last quarter. 76.43% of the stock is currently 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.