Mark David Brazeal Sells 18,900 Shares of Broadcom Inc. (NASDAQ:AVGO) Stock

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) insider Mark David Brazeal sold 18,900 shares of the company's stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the transaction, the insider now directly owns 380,560 shares in the company, valued at approximately $69,596,812.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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 stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00.

Broadcom Price Performance

Shares of AVGO stock traded down $4.21 during mid-day trading on Friday, reaching $181.48. The company's stock had a trading volume of 22,931,396 shares, compared to its average volume of 30,920,219. 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 firm's 50-day moving average is $162.16 and its two-hundred day moving average is $151.32. The company has a market cap of $847.62 billion, a P/E ratio of 154.73, a PEG ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 1-year low of $81.83 and a 1-year high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom's quarterly revenue was up 47.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.95 earnings per share. On average, research analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business 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 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is 184.19%.

Institutional Trading of Broadcom

A number of institutional investors have recently modified their holdings of AVGO. Legend Financial Advisors Inc. lifted its stake in Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer's stock valued at $25,000 after acquiring an additional 8 shares during the last quarter. Richardson Capital Management LLC bought a new stake in Broadcom during the first quarter worth about $29,000. Delta Asset Management LLC TN boosted its holdings in shares of 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 purchasing an additional 17 shares in the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of Broadcom in the first quarter worth about $36,000. Finally, Creekmur Asset Management LLC acquired a new position in shares of Broadcom during the fourth quarter worth $43,000. 76.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AVGO has been the topic of a number of research analyst reports. Jefferies Financial Group lifted their price target on shares of Broadcom from $155.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, June 13th. StockNews.com downgraded shares of Broadcom from a "buy" rating to a "hold" rating in a research note on Tuesday, July 23rd. Bank of America reaffirmed a "buy" rating and set a $215.00 target price (up previously from $200.00) on shares of Broadcom in a research note on Monday, June 24th. TD Cowen raised shares of Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company upped their target price on shares of Broadcom from $143.00 to $170.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 13th. Two investment 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's stock. According to data from MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and a consensus price target 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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