Broadcom Inc. (NASDAQ:AVGO) Insider Sells $9,279,200.00 in Stock

Broadcom Inc. (NASDAQ:AVGO) insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the transaction, the insider now directly owns 696,730 shares in the company, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Broadcom Trading Up 0.3 %

Shares of AVGO stock opened at $229.31 on Thursday. The company has a 50-day moving average of $194.60 and a two-hundred day moving average of $174.92. The firm has a market cap of $1.07 trillion, a PE ratio of 199.23, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. Broadcom Inc. has a 1-year low of $106.26 and a 1-year high of $251.88. 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 (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the firm earned $0.98 EPS. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis. On average, analysts predict 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. Investors of record on Monday, December 23rd were paid a dividend of $0.59 per share. 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. This represents a $2.36 annualized dividend and a yield of 1.03%. Broadcom’s dividend payout ratio is presently 191.87%.

Hedge Funds Weigh In On Broadcom

Institutional investors have recently bought and sold shares of the company. Kiely Wealth Advisory Group Inc. acquired a new position in Broadcom during the 2nd quarter worth $128,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Broadcom during the second quarter worth approximately $136,000. WPWealth LLP acquired a new stake in Broadcom in the second quarter valued at approximately $204,000. Harrington Investments INC acquired a new position in Broadcom during the 2nd quarter worth approximately $207,000. Finally, AIMZ Investment Advisors LLC acquired a new position in Broadcom during the 2nd quarter worth approximately $207,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. TD Cowen raised their price target on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Truist Financial raised their target price on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, December 13th. UBS Group boosted their price target on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Robert W. Baird raised their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Morgan Stanley upped their target price on shares of Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $221.88.

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.