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

Broadcom Inc. (NASDAQ:AVGOGet Free Report) 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:AVGOGet Free Report) 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.

Read Our Latest Stock Report on AVGO

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

(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.

Further Reading

Insider Buying and Selling by Quarter for Broadcom (NASDAQ:AVGO)

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