Broadcom Inc. (NASDAQ:AVGO) Insider Sells $3,456,432.00 in Stock

Broadcom Inc. (NASDAQ:AVGO) insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Mark David Brazeal also recently made the following trade(s):

• On Monday, October 7th, Mark David Brazeal sold 20,280 shares of Broadcom stock. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00.

Broadcom Trading Down 2.3 %

AVGO opened at $181.48 on Monday. The stock has a market capitalization of $844.77 billion, a PE ratio of 7.81, a P/E/G ratio of 2.99 and a beta of 1.17. The firm’s fifty day moving average price is $162.91 and its 200 day moving average price is $151.64. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a 12-month low of $81.83 and a 12-month high of $186.42.

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

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.17%. Broadcom’s payout ratio is presently 9.12%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Cantor Fitzgerald boosted their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Oppenheimer lowered their target price on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Bank of America restated a “buy” rating and issued a $215.00 target price (up from $200.00) on shares of Broadcom in a report on Monday, June 24th. Truist Financial lifted their price target on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group lifted their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $190.29.

Institutional Trading of Broadcom

Several institutional investors have recently added to or reduced their stakes in AVGO. Brevan Howard Capital Management LP bought a new position in shares of Broadcom during the fourth quarter worth about $1,225,000. Bell Investment Advisors Inc grew its position in Broadcom by 18.6% in the 4th quarter. Bell Investment Advisors Inc now owns 134 shares of the semiconductor manufacturer’s stock valued at $150,000 after buying an additional 21 shares in the last quarter. Baird Financial Group Inc. grew its position in Broadcom by 7.9% in the 4th quarter. Baird Financial Group Inc. now owns 176,061 shares of the semiconductor manufacturer’s stock valued at $196,529,000 after buying an additional 12,958 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its position in Broadcom by 8.6% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 16,909 shares of the semiconductor manufacturer’s stock valued at $18,875,000 after buying an additional 1,340 shares in the last quarter. Finally, Gotham Asset Management LLC grew its position in Broadcom by 4.0% in the 4th quarter. Gotham Asset Management LLC now owns 25,579 shares of the semiconductor manufacturer’s stock valued at $28,553,000 after buying an additional 988 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

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.