Broadcom Inc. (NASDAQ:AVGO) CEO Hock E. Tan Sells 45,000 Shares

Broadcom Inc. (NASDAQ:AVGO) CEO Hock E. Tan sold 45,000 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the transaction, the chief executive officer now owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded down $3.61 during midday trading on Friday, reaching $241.75. The company had a trading volume of 29,222,434 shares, compared to its average volume of 30,518,758. The stock has a market cap of $1.13 trillion, a P/E ratio of 210.03, a P/E/G ratio of 2.15 and a beta of 1.13. The company’s 50 day moving average price is $184.30 and its 200 day moving average price is $170.51. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 52-week low of $104.15 and a 52-week high of $251.88.

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

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be issued a $0.59 dividend. The ex-dividend date is Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 0.98%. Broadcom’s dividend payout ratio (DPR) is 191.87%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Piper Sandler raised their price objective on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. UBS Group raised their target price on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Bank of America upped their target price on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Morgan Stanley lifted their price target on Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Finally, Barclays upped their price objective on Broadcom from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.88.

Institutional Trading of Broadcom

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. NCP Inc. increased its stake in Broadcom by 615.4% in the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after acquiring an additional 400 shares during the last quarter. Lee Danner & Bass Inc. purchased a new stake in Broadcom in the second quarter valued at approximately $432,000. BOS Asset Management LLC lifted its position in Broadcom by 92.2% during the second quarter. BOS Asset Management LLC now owns 540 shares of the semiconductor manufacturer’s stock valued at $867,000 after purchasing an additional 259 shares during the last quarter. Hantz Financial Services Inc. purchased a new position in Broadcom in the 2nd quarter worth approximately $23,933,000. Finally, Skyline Advisors Inc. bought a new position in shares of Broadcom in the 2nd quarter worth $229,000. 76.43% of the stock is currently owned by institutional investors.

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.