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

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) insider Mark David Brazeal sold 20,280 shares of the company's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the completion of the transaction, the insider now directly owns 399,460 shares in the company, valued at approximately $70,744,366. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Broadcom Stock Up 2.9 %

Broadcom stock traded up $5.22 during mid-day trading on Wednesday, hitting $185.95. The company's stock had a trading volume of 25,463,604 shares, compared to its average volume of 31,035,803. The firm's 50 day moving average is $160.88 and its 200 day moving average is $150.57. 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. 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 52-week low of $81.83 and a 52-week high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued 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. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the prior year, the firm posted $0.95 EPS. The business's revenue was up 47.3% compared to the same quarter last year. On average, analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued 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 was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.14%. Broadcom's dividend payout ratio is currently 9.12%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AVGO. Legend Financial Advisors Inc. grew its holdings 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 during the last quarter. Richardson Capital Management LLC acquired a new stake in Broadcom in the 1st quarter valued at approximately $29,000. Delta Asset Management LLC TN grew its holdings in Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock valued at $32,000 after buying an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new stake in Broadcom in the 1st quarter valued at approximately $36,000. Finally, Creekmur Asset Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AVGO. Citigroup reaffirmed a "buy" rating and issued a $156.00 target price on shares of Broadcom in a research report on Tuesday, June 11th. Benchmark reissued a "buy" rating and set a $210.00 price target on shares of Broadcom in a research report on Friday, September 6th. TD Cowen raised Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. Mizuho upped their price target on Broadcom from $162.50 to $190.00 and gave the company a "buy" rating in a research report on Thursday, June 13th. Finally, Rosenblatt Securities dropped their price target on Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.

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