Broadcom Inc. (NASDAQ:AVGO) Insider Sells $3,591,588.00 in Stock

Broadcom Inc. (NASDAQ:AVGO) insider Mark David Brazeal sold 20,280 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the transaction, the insider now owns 399,460 shares of the company’s stock, valued at $70,744,366. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Broadcom Trading Up 2.9 %

AVGO stock traded up $5.22 during midday trading on Wednesday, hitting $185.95. 25,463,604 shares of the company’s stock were exchanged, compared to its average volume of 31,035,803. The stock’s fifty day moving average price is $160.88 and its 200-day moving average price is $150.57. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a market cap of $865.57 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 2.78 and a beta of 1.17. Broadcom Inc. has a one year low of $81.83 and a one year high of $186.42.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 earnings per share. Research analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.14%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is 9.12%.

Institutional Trading of Broadcom

A number of institutional investors have recently modified their holdings of the company. Lion Street Advisors LLC raised its position in shares of Broadcom by 1.9% in the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock worth $520,000 after acquiring an additional 6 shares in the last quarter. Tucker Asset Management LLC raised its position in shares of Broadcom by 12.5% in the 4th quarter. Tucker Asset Management LLC now owns 72 shares of the semiconductor manufacturer’s stock worth $80,000 after acquiring an additional 8 shares in the last quarter. Buckley Wealth Management LLC increased its position in Broadcom by 0.7% in the 1st quarter. Buckley Wealth Management LLC now owns 1,153 shares of the semiconductor manufacturer’s stock valued at $1,529,000 after buying an additional 8 shares in the last quarter. Legend Financial Advisors Inc. increased its position in Broadcom by 72.7% in the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 8 shares in the last quarter. Finally, Ascent Wealth Partners LLC increased its position in Broadcom by 0.3% in the 1st quarter. Ascent Wealth Partners LLC now owns 2,964 shares of the semiconductor manufacturer’s stock valued at $3,929,000 after buying an additional 8 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AVGO. Oppenheimer dropped their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Benchmark reaffirmed a “buy” rating and set a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. Cantor Fitzgerald raised their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, William Blair started coverage on Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $190.29.

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.