Insider Selling: Broadcom Inc. (NASDAQ:AVGO) CFO Sells $4,029,420.00 in Stock

Broadcom Inc. (NASDAQ:AVGO) CFO Kirsten M. Spears sold 3,000 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $1,343.14, for a total value of $4,029,420.00. Following the completion of the sale, the chief financial officer now owns 43,459 shares in the company, valued at $58,371,521.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Broadcom Trading Up 4.5 %

Shares of NASDAQ AVGO opened at $1,382.46 on Friday. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The firm has a market capitalization of $640.66 billion, a PE ratio of 51.24, a PEG ratio of 2.85 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The business has a 50-day moving average price of $1,300.62 and a two-hundred day moving average price of $1,099.55.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same period last year, the company posted $9.83 EPS. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. As a group, analysts predict that Broadcom Inc. will post 36.31 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.52%. Broadcom’s dividend payout ratio is 77.84%.

Institutional Investors Weigh In On Broadcom

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Broadcom by 7.7% during the 4th quarter. Vanguard Group Inc. now owns 43,347,811 shares of the semiconductor manufacturer’s stock valued at $48,386,994,000 after buying an additional 3,089,798 shares during the last quarter. Capital International Investors lifted its holdings in Broadcom by 4.5% in the 4th quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer’s stock worth $26,044,294,000 after purchasing an additional 1,006,223 shares during the last quarter. State Street Corp lifted its holdings in Broadcom by 5.0% in the 1st quarter. State Street Corp now owns 16,632,123 shares of the semiconductor manufacturer’s stock worth $10,670,149,000 after purchasing an additional 794,832 shares during the last quarter. Morgan Stanley lifted its holdings in Broadcom by 12.5% in the 4th quarter. Morgan Stanley now owns 5,878,874 shares of the semiconductor manufacturer’s stock worth $3,287,056,000 after purchasing an additional 651,014 shares during the last quarter. Finally, Norges Bank acquired a new stake in Broadcom in the 4th quarter worth approximately $6,225,987,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of recent research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Barclays initiated coverage on Broadcom in a research note on Wednesday, March 20th. They issued an “overweight” rating and a $1,405.00 target price on the stock. Mizuho raised their target price on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a research note on Friday, January 19th. Finally, Cantor Fitzgerald raised their price target on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,255.18.

About Broadcom

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.