Broadcom Inc. (NASDAQ:AVGO) Director Sells $3,400,200.00 in Stock

Broadcom Inc. (NASDAQ:AVGO) Director Diane M. Bryant sold 15,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the sale, the director now directly owns 6,460 shares in the company, valued at approximately $1,464,352.80. This trade represents a 69.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Broadcom Price Performance

Shares of AVGO traded up $5.68 during mid-day trading on Thursday, hitting $245.36. The company’s stock had a trading volume of 28,403,055 shares, compared to its average volume of 30,523,424. 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 fifty-two week low of $104.15 and a fifty-two week high of $251.88. The stock has a market capitalization of $1.15 trillion, a price-to-earnings ratio of 213.17, a PEG ratio of 2.15 and a beta of 1.13. The firm has a 50-day moving average price of $183.03 and a 200 day moving average price of $169.78.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the company posted $0.98 EPS. The firm’s revenue was up 51.2% on a year-over-year basis. On average, research analysts predict that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be issued a $0.59 dividend. The ex-dividend date is Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.96%. Broadcom’s dividend payout ratio is presently 191.87%.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research analyst reports. Mizuho upped their target price on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Susquehanna upped their price objective on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Robert W. Baird increased their price objective on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Morgan Stanley upped their price objective on Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.88.

Institutional Investors Weigh In On Broadcom

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. NCP Inc. increased its stake in Broadcom by 615.4% during the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after purchasing an additional 400 shares in the last quarter. Golden State Equity Partners acquired a new position in Broadcom in the 2nd quarter valued at $5,539,000. Signaturefd LLC raised its stake in Broadcom by 5.5% in the 2nd quarter. Signaturefd LLC now owns 7,796 shares of the semiconductor manufacturer’s stock worth $12,516,000 after purchasing an additional 406 shares in the last quarter. Deuterium Capital Management LLC bought a new stake in shares of Broadcom in the second quarter valued at approximately $1,806,000. Finally, Lee Danner & Bass Inc. bought a new stake in Broadcom during the second quarter worth about $432,000. 76.43% of the stock is owned by institutional investors and hedge funds.

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.