Broadcom Inc. (NASDAQ:AVGO) Director Sells $130,897.50 in Stock

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the transaction, the director now directly owns 34,750 shares of the company's stock, valued at $6,064,917.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Broadcom Stock Performance

NASDAQ:AVGO traded down $5.40 during mid-day trading on Friday, reaching $172.69. 20,570,773 shares of the stock were exchanged, compared to its average volume of 31,572,910. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 1 year low of $80.89 and a 1 year high of $185.16. The company has a 50 day simple moving average of $157.69 and a 200-day simple moving average of $147.96. The stock has a market capitalization of $806.56 billion, a P/E ratio of 7.43, a P/E/G ratio of 2.78 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. The business 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 company's quarterly revenue was up 47.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 EPS. Analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 19th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.23%. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is currently 9.12%.

Hedge Funds Weigh In On Broadcom

Several institutional investors have recently added to or reduced their stakes in AVGO. Alternative Investment Advisors LLC. acquired a new position in shares of Broadcom in the second quarter valued at approximately $3,162,000. Greater Midwest Financial Group LLC lifted its stake in shares of Broadcom by 868.6% in the 2nd quarter. Greater Midwest Financial Group LLC now owns 47,925 shares of the semiconductor manufacturer's stock worth $76,945,000 after acquiring an additional 42,977 shares during the period. Centaurus Financial Inc. boosted its holdings in shares of Broadcom by 51.6% in the second quarter. Centaurus Financial Inc. now owns 7,086 shares of the semiconductor manufacturer's stock valued at $11,377,000 after acquiring an additional 2,412 shares in the last quarter. Summit Wealth Partners LLC lifted its position in Broadcom by 100.4% in the second quarter. Summit Wealth Partners LLC now owns 499 shares of the semiconductor manufacturer's stock valued at $801,000 after purchasing an additional 250 shares during the period. Finally, Newbridge Financial Services Group Inc. boosted its holdings in Broadcom by 71.8% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,441 shares of the semiconductor manufacturer's stock valued at $2,314,000 after purchasing an additional 602 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of research reports. Sanford C. Bernstein lifted their price objective on shares of Broadcom from $160.00 to $195.00 and gave the company an "outperform" rating in a report on Thursday, June 13th. Mizuho upped their price objective on Broadcom from $162.50 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, June 13th. TD Cowen upgraded Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Barclays boosted their target price on Broadcom from $150.00 to $200.00 and gave the stock an "overweight" rating in a research note on Thursday, June 13th. Finally, Oppenheimer reduced their price target on Broadcom from $2,000.00 to $200.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $189.23.

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.