Broadcom Inc. (NASDAQ:AVGO) Insider Sells $2,893,968.00 in Stock

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the sale, the insider now owns 737,330 shares of the company's stock, valued at $133,781,155.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Broadcom Trading Up 0.5 %

NASDAQ:AVGO traded up $0.84 during mid-day trading on Wednesday, hitting $176.82. The company had a trading volume of 15,272,956 shares, compared to its average volume of 30,757,717. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a fifty-two week low of $81.83 and a fifty-two week high of $186.42. The firm has a market cap of $823.08 billion, a P/E ratio of 7.59, a P/E/G ratio of 2.99 and a beta of 1.17. The business's fifty day moving average is $164.36 and its two-hundred day moving average is $152.27.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share 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 the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom's revenue for the quarter was up 47.3% on a year-over-year basis. During the same period last year, the company posted $0.95 EPS. As a group, research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.20%. This is a boost from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's dividend payout ratio (DPR) is currently 9.12%.

Institutional Trading of Broadcom

A number of large investors have recently made changes to their positions in AVGO. Scarborough Advisors LLC bought a new position in shares of Broadcom during the 4th quarter valued at about $73,000. ST Germain D J Co. Inc. lifted its stake in Broadcom by 11.4% in the first quarter. ST Germain D J Co. Inc. now owns 166 shares of the semiconductor manufacturer's stock valued at $220,000 after buying an additional 17 shares in the last quarter. Tompkins Financial Corp boosted its holdings in shares of Broadcom by 10.5% in the first quarter. Tompkins Financial Corp now owns 116 shares of the semiconductor manufacturer's stock valued at $154,000 after buying an additional 11 shares during the period. Farmers Trust Co. bought a new stake in shares of Broadcom during the first quarter worth $205,000. Finally, Foster Group Inc. increased its position in shares of Broadcom by 29.5% during the first quarter. Foster Group Inc. now owns 408 shares of the semiconductor manufacturer's stock worth $541,000 after acquiring an additional 93 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

AVGO has been the subject of several recent analyst reports. The Goldman Sachs Group raised their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, September 6th. William Blair started coverage on Broadcom in a report on Wednesday, September 18th. They set an "outperform" rating for the company. Truist Financial boosted their price objective on Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Bank of America restated a "buy" rating and issued a $215.00 target price (up from $200.00) on shares of Broadcom in a research note on Monday, June 24th. Finally, Mizuho lifted their price target on Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a report on Monday. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and an average price target of $191.54.

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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