Broadcom (NASDAQ:AVGO) Shares Down 0.5% – Time to Sell?

Shares of Broadcom Inc. (NASDAQ:AVGO) were down 0.5% on Friday . The stock traded as low as $187.37 and last traded at $189.64. Approximately 8,232,617 shares were traded during trading, a decline of 72% from the average daily volume of 29,037,497 shares. The stock had previously closed at $190.54.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AVGO. Evercore ISI boosted their target price on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. TD Cowen increased their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Morgan Stanley lifted their price target on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Barclays increased their price target on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Mizuho dropped their price objective on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Price Performance

The business has a 50 day moving average price of $215.03 and a 200-day moving average price of $194.59. The company has a market capitalization of $898.34 billion, a price-to-earnings ratio of 155.71, a P/E/G ratio of 2.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Insider Activity

In other Broadcom news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 172,168 shares of company stock worth $40,508,877 in the last quarter. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Broadcom

A number of institutional investors have recently modified their holdings of the company. Swedbank AB raised its holdings in shares of 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 acquiring an additional 16,453,718 shares during the last quarter. Howard Capital Management Group LLC increased its holdings in Broadcom by 2,219.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after purchasing an additional 2,908 shares in the last quarter. Pettinga Financial Advisors LLC raised its stake in shares of Broadcom by 896.9% in the third quarter. Pettinga Financial Advisors LLC now owns 2,911 shares of the semiconductor manufacturer’s stock worth $502,000 after purchasing an additional 2,619 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Broadcom by 1,019.4% in the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock valued at $1,238,966,000 after purchasing an additional 6,540,800 shares in the last quarter. Finally, Cincinnati Financial Corp boosted its position in shares of Broadcom by 569.8% during the third quarter. Cincinnati Financial Corp now owns 1,734,060 shares of the semiconductor manufacturer’s stock valued at $299,125,000 after buying an additional 1,475,160 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

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.