2 weeks Ago By ABMN Staff
Broadcom ( NASDAQ:AVGO – Free Report ) had its target price decreased by Barclays from $260.00 to $215.00 in a research note issued to investors on Tuesday, Benzinga reports.
Barclays currently has an overweight rating on the semiconductor manufacturer’s stock. A number of other brokerages also recently issued reports on AVGO. Bank of America lowered their price target on shares of Broadcom from $260.
00 to $240.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Morgan Stanley increased their target price on shares of Broadcom from $246.
00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. William Blair restated an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th.
Mizuho reduced their price target on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, March 7th.
Finally, Citigroup dropped their price objective on Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, April 11th.
Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $229.48.
View Our Latest Research Report on AVGO Broadcom Trading Up 2.0 % Broadcom announced that its Board of Directors has initiated a share repurchase program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares.
This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
Broadcom Announces Dividend The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were paid a dividend of $0.59 per share.
This represents a $2.36 dividend on an annualized basis and a yield of 1.39%.
The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.
Insider Transactions at Broadcom In other news, Director Justine Page sold 800 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.
00. Following the completion of the sale, the director now owns 25,380 shares in the company, valued at $4,695,300. This trade represents a 3.
06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink . Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction that occurred on Monday, March 24th.
The stock was sold at an average price of $194.65, for a total value of $5,839,500.00.
Following the completion of the transaction, the insider now owns 490,956 shares of the company’s stock, valued at $95,564,585.40. The trade was a 5.
76 % decrease in their ownership of the stock. The disclosure for this sale can be found here . Insiders have sold a total of 719,776 shares of company stock worth $131,065,542 in the last quarter.
Company insiders own 2.00% of the company’s stock. Institutional Trading of Broadcom Institutional investors and hedge funds have recently bought and sold shares of the stock.
Howard Capital Management Group LLC increased its holdings in Broadcom by 2,219.8% in the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after purchasing an additional 2,908 shares during the last quarter.
Principal Financial Group Inc. grew its stake 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 buying an additional 6,540,800 shares in the last quarter. Invst LLC raised its holdings in shares of Broadcom by 928.
6% in the 3rd quarter. Invst LLC now owns 3,024 shares of the semiconductor manufacturer’s stock valued at $522,000 after buying an additional 2,730 shares during the period. McIlrath & Eck LLC lifted its stake in Broadcom by 793.
3% during the 3rd quarter. McIlrath & Eck LLC now owns 402 shares of the semiconductor manufacturer’s stock worth $69,000 after acquiring an additional 357 shares in the last quarter. Finally, Passumpsic Savings Bank boosted its holdings in Broadcom by 900.
9% during the 3rd quarter. Passumpsic Savings Bank now owns 15,904 shares of the semiconductor manufacturer’s stock valued at $2,743,000 after acquiring an additional 14,315 shares during the period. 76.
43% of the stock is currently owned by hedge funds and other institutional investors. Broadcom Company Profile ( Get Free Report ) 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.
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