Insider Selling: Broadcom Inc (AVGO) Director Sells 5,223 Shares of Stock

Broadcom Inc (NASDAQ:AVGO) Director Donald Macleod sold 5,223 shares of the stock in a transaction dated Monday, January 7th. The stock was sold at an average price of $233.65, for a total value of $1,220,353.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Shares of NASDAQ:AVGO opened at $249.52 on Friday. The stock has a market cap of $94.99 billion, a P/E ratio of 13.25, a P/E/G ratio of 1.05 and a beta of 0.73. The company has a current ratio of 3.90, a quick ratio of 3.41 and a debt-to-equity ratio of 0.66. Broadcom Inc has a one year low of $197.46 and a one year high of $273.85.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 EPS for the quarter, beating the consensus estimate of $5.58 by $0.27. The business had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.40 billion. Broadcom had a return on equity of 29.03% and a net margin of 58.80%. The company’s revenue was up 12.4% on a year-over-year basis. During the same period last year, the business posted $4.59 EPS. On average, equities analysts forecast that Broadcom Inc will post 18.59 earnings per share for the current year.



The business also recently announced a quarterly dividend, which was paid on Friday, December 28th. Investors of record on Wednesday, December 19th were issued a dividend of $2.65 per share. This is an increase from Broadcom’s previous quarterly dividend of $1.75. This represents a $10.60 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend was Tuesday, December 18th. Broadcom’s dividend payout ratio (DPR) is presently 56.29%.

Several research firms recently weighed in on AVGO. BidaskClub upgraded Broadcom from a “hold” rating to a “buy” rating in a research report on Friday, September 21st. B. Riley upgraded Broadcom from a “neutral” rating to a “buy” rating and increased their target price for the stock from $250.00 to $300.00 in a research report on Monday, December 3rd. Charter Equity upgraded Broadcom from a “market perform” rating to a “buy” rating in a research report on Friday, December 7th. Craig Hallum reiterated a “buy” rating and set a $305.00 target price (up from $300.00) on shares of Broadcom in a research report on Friday, December 7th. Finally, Cowen reiterated an “outperform” rating and set a $280.00 target price (up from $255.00) on shares of Broadcom in a research report on Friday, December 7th. Nine equities research analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $288.93.

Large investors have recently made changes to their positions in the stock. Cohen & Steers Inc. purchased a new stake in shares of Broadcom during the 3rd quarter valued at about $52,000. Patten Group Inc. raised its holdings in shares of Broadcom by 125.5% during the 3rd quarter. Patten Group Inc. now owns 521 shares of the semiconductor manufacturer’s stock valued at $129,000 after buying an additional 290 shares during the period. Canton Hathaway LLC purchased a new stake in shares of Broadcom during the 3rd quarter valued at about $130,000. CWM LLC raised its holdings in shares of Broadcom by 160.7% during the 3rd quarter. CWM LLC now owns 644 shares of the semiconductor manufacturer’s stock valued at $159,000 after buying an additional 397 shares during the period. Finally, Centaurus Financial Inc. purchased a new stake in shares of Broadcom during the 2nd quarter valued at about $161,000. Institutional investors and hedge funds own 86.37% of the company’s stock.

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Broadcom Company Profile

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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