Rep. James Comer Buys Broadcom Inc. (NASDAQ:AVGO) Shares

Representative James Comer (R-Kentucky) recently bought shares of Broadcom Inc. NASDAQ: AVGO. In a filing disclosed on January 10th, the Representative disclosed that they had bought between $1,001 and $15,000 in Broadcom stock on January 2nd.

Representative James Comer also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Palo Alto Networks NASDAQ: PANW on 1/2/2025.
• Purchased $1,001 - $15,000 in shares of Arista Networks NYSE: ANET on 1/2/2025.
• Purchased $1,001 - $15,000 in shares of Dover NYSE: DOV on 1/2/2025.
• Purchased $1,001 - $15,000 in shares of PayPal NASDAQ: PYPL on 1/2/2025.
• Purchased $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 1/2/2025.
• Purchased $1,001 - $15,000 in shares of Uber Technologies NYSE: UBER on 1/2/2025.
• Purchased $1,001 - $15,000 in shares of Home Depot NYSE: HD on 1/2/2025.
• Purchased $1,001 - $15,000 in shares of Amphenol NYSE: APH on 1/2/2025.
• Purchased $1,001 - $15,000 in shares of Apple NASDAQ: AAPL on 1/2/2025.
• Purchased $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 1/2/2025.

Broadcom Stock Down 0.3 %

AVGO stock opened at $224.70 on Wednesday. Broadcom Inc. has a one year low of $109.02 and a one year high of $251.88. 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 fifty day moving average is $199.05 and its 200 day moving average is $176.63. The firm has a market cap of $1.05 trillion, a PE ratio of 195.22, a P/E/G ratio of 2.15 and a beta of 1.03.

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

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.05%. This is a positive change from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom's payout ratio is 191.87%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AVGO. Rosenblatt Securities reissued a "buy" rating and issued a $240.00 price target on shares of Broadcom in a research note on Wednesday, December 11th. Evercore ISI lifted their target price on shares of Broadcom from $201.00 to $250.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Barclays upped their price target on shares of Broadcom from $200.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, December 16th. UBS Group lifted their price objective on Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Finally, Jefferies Financial Group boosted their price objective on Broadcom from $205.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus target price of $223.54.

Institutional Investors Weigh In On Broadcom

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVGO. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Broadcom during the 2nd quarter worth about $128,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Broadcom during the second quarter valued at about $136,000. WPWealth LLP acquired a new stake in shares of Broadcom during the second quarter valued at about $204,000. AIMZ Investment Advisors LLC purchased a new stake in shares of Broadcom in the 2nd quarter valued at approximately $207,000. Finally, Inspire Advisors LLC acquired a new position in shares of Broadcom in the 2nd quarter worth approximately $211,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the transaction, the insider now owns 321,660 shares in the company, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares in the company, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,278 shares of company stock valued at $44,964,800. Company insiders own 2.00% of the company's stock.

About Representative Comer

James Comer Jr. (Republican Party) is a member of the U.S. House, representing Kentucky's 1st Congressional District. He assumed office on November 14, 2016. His current term ends on January 3, 2025. Comer (Republican Party) ran for re-election to the U.S. House to represent Kentucky's 1st Congressional District. He won in the general election on November 8, 2022. Prior to serving in Congress, Comer was the Kentucky Commissioner of Agriculture from 2012 to 2016, and the Kentucky House of Representatives from 2001 to 2012. He also unsuccessfully ran for Governor of Kentucky in 2015. A writer for the Louisville Courier-Journal called Comer "instrumental in the final passage of a five-year farm bill," noting that he served on the conference committee that produced the final version of the bill. Comer is from Tompkinsville, Ky. He acted as the director of South Central Bank for 12 years and has been the co-owner of the Comer Land and Cattle Company. He previously served as president of CFB Foods Incorporated from 2001 to 2003 and president of Comer and Polston Insurance Incorporated from 1993 to 1995.

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.