Broadcom Inc (NASDAQ:AVGO) CEO Sells $17,636,681.79 in Stock

Broadcom Inc (NASDAQ:AVGO) CEO Hock E. Tan sold 57,171 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $308.49, for a total value of $17,636,681.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hock E. Tan also recently made the following trade(s):

  • On Tuesday, July 21st, Hock E. Tan sold 57,171 shares of Broadcom stock. The stock was sold at an average price of $315.18, for a total value of $18,019,155.78.
  • On Tuesday, July 14th, Hock E. Tan sold 57,171 shares of Broadcom stock. The stock was sold at an average price of $311.49, for a total value of $17,808,194.79.
  • On Tuesday, July 7th, Hock E. Tan sold 57,171 shares of Broadcom stock. The stock was sold at an average price of $315.86, for a total value of $18,058,032.06.
  • On Tuesday, June 30th, Hock E. Tan sold 57,171 shares of Broadcom stock. The stock was sold at an average price of $313.81, for a total value of $17,940,831.51.
  • On Tuesday, June 23rd, Hock E. Tan sold 57,171 shares of Broadcom stock. The stock was sold at an average price of $313.70, for a total value of $17,934,542.70.
  • On Tuesday, June 16th, Hock E. Tan sold 57,171 shares of Broadcom stock. The stock was sold at an average price of $310.65, for a total value of $17,760,171.15.

Broadcom stock opened at $316.75 on Friday. The company has a market capitalization of $127.39 billion, a price-to-earnings ratio of 56.66, a PEG ratio of 1.49 and a beta of 0.90. The company’s fifty day moving average price is $310.87 and its two-hundred day moving average price is $284.78. Broadcom Inc has a one year low of $155.67 and a one year high of $331.58. The company has a debt-to-equity ratio of 1.88, a current ratio of 2.15 and a quick ratio of 2.01.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, June 4th. The semiconductor manufacturer reported $5.14 EPS for the quarter, hitting analysts’ consensus estimates of $5.14. The firm had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.69 billion. Broadcom had a net margin of 10.97% and a return on equity of 32.00%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $5.21 earnings per share. As a group, sell-side analysts anticipate that Broadcom Inc will post 17.47 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in AVGO. HHM Wealth Advisors LLC bought a new position in Broadcom during the first quarter worth about $29,000. Verus Capital Partners LLC bought a new stake in shares of Broadcom during the 4th quarter worth approximately $34,000. Private Ocean LLC lifted its holdings in shares of Broadcom by 45.0% during the 1st quarter. Private Ocean LLC now owns 145 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 45 shares during the period. Atwood & Palmer Inc. lifted its holdings in shares of Broadcom by 532.0% during the 1st quarter. Atwood & Palmer Inc. now owns 158 shares of the semiconductor manufacturer’s stock worth $37,000 after acquiring an additional 133 shares during the period. Finally, Price Wealth LLC bought a new stake in shares of Broadcom during the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 81.19% of the company’s stock.

Several research firms recently commented on AVGO. Citigroup boosted their price target on Broadcom from $303.00 to $360.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. They noted that the move was a valuation call. Bank of America boosted their price target on Broadcom from $305.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. UBS Group boosted their price target on Broadcom from $275.00 to $335.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Mizuho restated a “buy” rating and set a $350.00 price objective (up previously from $325.00) on shares of Broadcom in a research note on Sunday, June 21st. Finally, Charter Equity upgraded Broadcom from a “market perform” rating to an “outperform” rating in a research note on Sunday, April 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $339.25.

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

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