Broadcom Inc. (NASDAQ:AVGO) Insider Mark David Brazeal Sells 2,500 Shares of Stock

Broadcom Inc. (NASDAQ:AVGO) insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the sale, the insider now directly owns 41,974 shares of the company’s stock, valued at $55,257,092.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mark David Brazeal also recently made the following trade(s):

• On Wednesday, April 3rd, Mark David Brazeal sold 2,500 shares of Broadcom stock. The shares were sold at an average price of $1,367.52, for a total value of $3,418,800.00.
• On Thursday, March 28th, Mark David Brazeal sold 2,500 shares of Broadcom stock. The shares were sold at an average price of $1,318.97, for a total value of $3,297,425.00.

Broadcom Stock Down 2.8 %

AVGO opened at $1,344.07 on Friday. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The business has a 50-day moving average of $1,303.01 and a 200-day moving average of $1,103.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The company has a market capitalization of $622.87 billion, a PE ratio of 49.82, a price-to-earnings-growth ratio of 2.69 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share 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 company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same period last year, the business earned $9.83 EPS. The business’s quarterly revenue was up 34.2% on a year-over-year basis. Equities research analysts forecast that Broadcom Inc. will post 35.95 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Analyst Ratings Changes

AVGO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a research report on Friday, January 19th. Susquehanna increased their price target on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Oppenheimer reissued an “outperform” rating and issued a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Finally, Benchmark reissued a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,255.18.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. RMR Wealth Builders raised its stake in shares of Broadcom by 6.5% in the 3rd quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock valued at $5,284,000 after acquiring an additional 388 shares in the last quarter. Czech National Bank raised its stake in shares of Broadcom by 46.1% in the 3rd quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock valued at $59,909,000 after acquiring an additional 22,774 shares in the last quarter. CI Investments Inc. raised its stake in shares of Broadcom by 89.4% in the 3rd quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock valued at $114,221,000 after acquiring an additional 64,912 shares in the last quarter. NatWest Group plc grew its holdings in Broadcom by 8.2% in the 4th quarter. NatWest Group plc now owns 8,298 shares of the semiconductor manufacturer’s stock valued at $9,263,000 after buying an additional 631 shares during the last quarter. Finally, Rainsberger Wealth Advisors Inc. grew its holdings in Broadcom by 1.7% in the 4th quarter. Rainsberger Wealth Advisors Inc. now owns 2,155 shares of the semiconductor manufacturer’s stock valued at $2,405,000 after buying an additional 36 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

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.