Harry L. You Sells 6,540 Shares of Broadcom Inc. (NASDAQ:AVGO) Stock

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) Director Harry L. You sold 6,540 shares of the company's stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares of the company's stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Broadcom Price Performance

NASDAQ AVGO traded down $5.30 during trading hours on Thursday, reaching $218.32. The company's stock had a trading volume of 40,493,063 shares, compared to its average volume of 30,106,924. Broadcom Inc. has a 1 year low of $104.15 and a 1 year high of $251.88. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 189.68, a PEG ratio of 2.15 and a beta of 1.13. The firm's 50-day moving average price is $178.05 and its 200-day moving average price is $166.48.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analysts' expectations of $14.07 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom's quarterly revenue was up 51.2% on a year-over-year basis. During the same period last year, the company posted $0.98 earnings per share. On average, equities research analysts predict that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be given a $0.59 dividend. 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 dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, December 23rd. Broadcom's payout ratio is currently 191.87%.

Hedge Funds Weigh In On Broadcom

Several institutional investors have recently added to or reduced their stakes in AVGO. NCP Inc. lifted its position in Broadcom by 615.4% during the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer's stock valued at $747,000 after purchasing an additional 400 shares during the last quarter. My Legacy Advisors LLC purchased a new stake in shares of Broadcom during the 2nd quarter valued at about $628,000. Cornerstone Wealth Group LLC lifted its holdings in shares of Broadcom by 0.9% in the 2nd quarter. Cornerstone Wealth Group LLC now owns 9,405 shares of the semiconductor manufacturer's stock valued at $15,100,000 after acquiring an additional 81 shares during the last quarter. Diversified LLC purchased a new position in Broadcom in the second quarter worth about $634,000. Finally, Mcrae Capital Management Inc. bought a new stake in Broadcom during the second quarter worth approximately $233,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AVGO. Bank of America upped their price objective on Broadcom from $215.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft increased their target price on Broadcom from $190.00 to $240.00 and gave the company a "buy" rating in a report on Friday, December 13th. Cantor Fitzgerald raised their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Robert W. Baird upped their price objective on shares of Broadcom from $195.00 to $210.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and an average target price of $220.54.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.