Broadcom Inc (NASDAQ:AVGO) Insider Sells $578,860.00 in Stock

Broadcom Inc (NASDAQ:AVGO) insider Mark David Brazeal sold 2,000 shares of Broadcom stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $289.43, for a total value of $578,860.00.

AVGO stock opened at $286.73 on Friday. The business has a 50 day moving average price of $283.13 and a 200 day moving average price of $286.70. The stock has a market cap of $114.81 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 1.44 and a beta of 0.89. Broadcom Inc has a fifty-two week low of $208.23 and a fifty-two week high of $323.20. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 1.58.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 12th. The semiconductor manufacturer reported $3.99 earnings per share for the quarter, missing the consensus estimate of $4.10 by ($0.11). The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.52 billion. Broadcom had a return on equity of 34.10% and a net margin of 13.44%. Broadcom’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.98 EPS. As a group, sell-side analysts anticipate that Broadcom Inc will post 16.97 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 23rd were paid a dividend of $2.65 per share. This represents a $10.60 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Friday, September 20th. Broadcom’s payout ratio is 56.29%.

Hedge funds have recently bought and sold shares of the stock. CRA Financial Services LLC lifted its stake in Broadcom by 2.0% in the second quarter. CRA Financial Services LLC now owns 1,696 shares of the semiconductor manufacturer’s stock valued at $488,000 after buying an additional 33 shares during the last quarter. Liberty Wealth Management LLC lifted its stake in Broadcom by 62.5% in the second quarter. Liberty Wealth Management LLC now owns 91 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 35 shares during the last quarter. Tarbox Family Office Inc. lifted its stake in Broadcom by 20.2% in the second quarter. Tarbox Family Office Inc. now owns 214 shares of the semiconductor manufacturer’s stock valued at $62,000 after buying an additional 36 shares during the last quarter. Enterprise Financial Services Corp lifted its stake in Broadcom by 14.7% in the second quarter. Enterprise Financial Services Corp now owns 289 shares of the semiconductor manufacturer’s stock valued at $83,000 after buying an additional 37 shares during the last quarter. Finally, Cresset Asset Management LLC lifted its stake in Broadcom by 2.0% in the second quarter. Cresset Asset Management LLC now owns 1,922 shares of the semiconductor manufacturer’s stock valued at $558,000 after buying an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 84.93% of the company’s stock.

Several equities analysts have weighed in on the company. Sanford C. Bernstein set a $340.00 target price on Broadcom and gave the company a “buy” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. set a $350.00 target price on Broadcom and gave the company a “buy” rating in a research report on Friday, September 13th. BidaskClub raised Broadcom from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Daiwa Capital Markets downgraded Broadcom from a “buy” rating to a “neutral” rating in a research report on Thursday, August 15th. Finally, ValuEngine downgraded Broadcom from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $312.06.

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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