Broadcom (NASDAQ:AVGO) Stock Price Down 0.4%

Broadcom Inc. (NASDAQ:AVGO)’s share price traded down 0.4% during mid-day trading on Tuesday . The company traded as low as $1,725.12 and last traded at $1,738.03. 1,364,315 shares traded hands during trading, a decline of 57% from the average session volume of 3,204,069 shares. The stock had previously closed at $1,745.86.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AVGO. The Goldman Sachs Group lifted their price objective on Broadcom from $1,550.00 to $1,850.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Benchmark reaffirmed a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Bank of America reissued a “buy” rating and issued a $2,150.00 target price (up previously from $2,000.00) on shares of Broadcom in a report on Monday, June 24th. Wells Fargo & Company upped their price target on shares of Broadcom from $1,430.00 to $1,700.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 13th. Finally, Oppenheimer raised their price objective on shares of Broadcom from $1,500.00 to $2,000.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Three investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,706.37.

Broadcom Stock Performance

The company has a market cap of $816.46 billion, a price-to-earnings ratio of 75.04, a P/E/G ratio of 3.03 and a beta of 1.17. The company has a current ratio of 1.25, a quick ratio of 1.16 and a debt-to-equity ratio of 1.02. The stock’s 50 day moving average price is $1,502.36 and its 200 day moving average price is $1,336.89.

Shares of Broadcom are going to split on Monday, July 15th. The 10-1 split was announced on Wednesday, June 12th. The newly created shares will be issued to shareholders after the market closes on Friday, July 12th.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, June 12th. The semiconductor manufacturer reported $10.96 EPS for the quarter, topping analysts’ consensus estimates of $10.78 by $0.18. Broadcom had a return on equity of 35.82% and a net margin of 24.10%. The company had revenue of $12.49 billion for the quarter, compared to the consensus estimate of $12.06 billion. During the same period last year, the business posted $9.51 EPS. The company’s quarterly revenue was up 43.0% compared to the same quarter last year. On average, analysts expect that Broadcom Inc. will post 37.19 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 24th were paid a dividend of $5.25 per share. The ex-dividend date was Monday, June 24th. This represents a $21.00 annualized dividend and a yield of 1.20%. Broadcom’s dividend payout ratio is currently 90.32%.

Insider Activity

In related news, Director Justine Page sold 254 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $1,750.26, for a total value of $444,566.04. Following the completion of the sale, the director now directly owns 2,748 shares in the company, valued at approximately $4,809,714.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

Institutional Trading of Broadcom

Large investors have recently bought and sold shares of the company. Stuart Chaussee & Associates Inc. purchased a new position in Broadcom in the 4th quarter valued at about $25,000. Legend Financial Advisors Inc. boosted its holdings in Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 8 shares during the last quarter. PSI Advisors LLC grew its stake in Broadcom by 66.7% during the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 10 shares in the last quarter. BKM Wealth Management LLC purchased a new stake in Broadcom during the 4th quarter worth approximately $29,000. Finally, Richardson Capital Management LLC acquired a new position in shares of Broadcom in the 1st quarter valued at approximately $29,000. Institutional investors and hedge funds 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.