Insider Selling: Broadcom Inc. (NASDAQ:AVGO) Insider Sells 40,000 Shares of Stock

Broadcom Inc. (NASDAQ:AVGO) insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the transaction, the insider now directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Broadcom Stock Performance

Broadcom stock opened at $228.64 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm has a market cap of $1.07 trillion, a P/E ratio of 198.64, a P/E/G ratio of 2.15 and a beta of 1.03. Broadcom Inc. has a 1-year low of $105.20 and a 1-year high of $251.88. The firm has a 50-day moving average of $193.55 and a 200-day moving average of $174.58.

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

Broadcom Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AVGO shares. Deutsche Bank Aktiengesellschaft boosted their target price on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. William Blair started coverage on shares of Broadcom in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Bank of America lifted their target price on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and issued a $240.00 price target on shares of Broadcom in a report on Wednesday, December 11th. Finally, Benchmark reaffirmed a “buy” rating and set a $255.00 price objective (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $221.88.

Institutional Investors Weigh In On Broadcom

Several institutional investors and hedge funds have recently modified their holdings of the stock. NCP Inc. boosted its position in Broadcom by 615.4% during the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after acquiring an additional 400 shares in the last quarter. Strategic Financial Concepts LLC lifted its stake in shares of Broadcom by 80,715.3% in the 2nd quarter. Strategic Financial Concepts LLC now owns 206,079 shares of the semiconductor manufacturer’s stock valued at $3,309,000 after purchasing an additional 205,824 shares during the period. MainStreet Investment Advisors LLC bought a new stake in shares of Broadcom during the second quarter valued at approximately $7,042,000. Otter Creek Advisors LLC grew its stake in Broadcom by 16.2% in the second quarter. Otter Creek Advisors LLC now owns 4,080 shares of the semiconductor manufacturer’s stock worth $6,551,000 after purchasing an additional 570 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Broadcom by 168.8% in the second quarter. Acadian Asset Management LLC now owns 33,044 shares of the semiconductor manufacturer’s stock worth $53,046,000 after purchasing an additional 20,753 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other 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.