Broadcom (NASDAQ:AVGO) Stock Price Up 0.3% – Should You Buy?

Shares of Broadcom Inc. (NASDAQ:AVGO) were up 0.3% on Thursday . The stock traded as high as $232.47 and last traded at $229.31. Approximately 18,720,163 shares were traded during trading, a decline of 31% from the average daily volume of 27,016,766 shares. The stock had previously closed at $228.64.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Robert W. Baird raised their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Barclays boosted their price objective on shares of Broadcom from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Benchmark reaffirmed a “buy” rating and issued a $255.00 target price (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and set a $240.00 price target on shares of Broadcom in a research report on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $221.88.

Broadcom Trading Up 0.3 %

The firm has a market cap of $1.07 trillion, a price-to-earnings ratio of 199.23, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The business’s 50 day moving average price is $194.60 and its 200-day moving average price is $174.92. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the business posted $0.98 EPS. Broadcom’s quarterly revenue was up 51.2% compared to the same quarter last year. Equities analysts expect that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.03%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is 191.87%.

Insider Activity

In other news, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the transaction, the insider now owns 737,330 shares in the company, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares in the company, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 203,228 shares of company stock valued at $46,940,208. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

Large investors have recently made changes to their positions in the company. Castleview Partners LLC raised its stake in Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. raised its stake in shares of Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. JDM Financial Group LLC lifted its holdings in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares during the period. Tsfg LLC grew its position in Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after buying an additional 204 shares in the last quarter. Finally, Cedar Wealth Management LLC increased its stake in Broadcom by 900.0% during the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock valued at $41,000 after buying an additional 216 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

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.