Broadcom Inc. (NASDAQ:AVGO) Insider Sells $6,720,000.00 in Stock

Broadcom Inc. (NASDAQ:AVGOGet Free Report) insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Broadcom Stock Performance

Shares of AVGO opened at $1,325.41 on Friday. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17. The stock has a market capitalization of $614.22 billion, a P/E ratio of 49.13, a P/E/G ratio of 2.78 and a beta of 1.26. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The company’s fifty day moving average is $1,275.48 and its two-hundred day moving average is $1,065.08.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same period in the prior year, the company posted $9.83 earnings per share. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, sell-side analysts predict that Broadcom Inc. will post 36.8 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

Analysts Set New Price Targets

A number of research firms recently weighed in on AVGO. UBS Group upped their target price on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Barclays assumed coverage on Broadcom in a report on Wednesday, March 20th. They issued an “overweight” rating and a $1,405.00 target price on the stock. Summit Insights raised Broadcom from a “hold” rating to a “buy” rating in a research report on Friday, December 8th. Finally, Susquehanna increased their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $1,230.18.

Check Out Our Latest Stock Report on Broadcom

Institutional Investors Weigh In On Broadcom

A number of hedge funds and other institutional investors have recently bought and sold shares of AVGO. Kapitalo Investimentos Ltda purchased a new position in shares of Broadcom in the 4th quarter valued at about $910,000. Newbridge Financial Services Group Inc. increased its holdings in Broadcom by 6.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 696 shares of the semiconductor manufacturer’s stock valued at $777,000 after buying an additional 43 shares in the last quarter. HighPoint Advisor Group LLC acquired a new stake in shares of Broadcom during the 4th quarter valued at approximately $7,482,000. Warren Street Wealth Advisors LLC grew its holdings in shares of Broadcom by 6.5% in the 4th quarter. Warren Street Wealth Advisors LLC now owns 472 shares of the semiconductor manufacturer’s stock worth $527,000 after acquiring an additional 29 shares during the period. Finally, M3 Advisory Group LLC purchased a new position in Broadcom in the 4th quarter valued at approximately $253,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Company Profile

(Get Free Report)

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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Insider Buying and Selling by Quarter for Broadcom (NASDAQ:AVGO)

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