Eddy W. Hartenstein Sells 530 Shares of Broadcom Inc. (NASDAQ:AVGO) Stock

Broadcom Inc. (NASDAQ:AVGO) Director Eddy W. Hartenstein sold 530 shares of the business’s stock in a transaction dated Tuesday, December 29th. The shares were sold at an average price of $435.83, for a total value of $230,989.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Eddy W. Hartenstein also recently made the following trade(s):

  • On Tuesday, December 15th, Eddy W. Hartenstein sold 530 shares of Broadcom stock. The shares were sold at an average price of $415.46, for a total value of $220,193.80.

AVGO opened at $437.85 on Friday. The business has a fifty day simple moving average of $407.54 and a 200 day simple moving average of $357.99. The company has a market capitalization of $178.08 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 1.47 and a beta of 1.01. Broadcom Inc. has a 1 year low of $155.67 and a 1 year high of $438.50. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.87 and a quick ratio of 1.71.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, December 9th. The semiconductor manufacturer reported $6.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $6.25 by $0.10. Broadcom had a return on equity of 35.23% and a net margin of 12.39%. The company had revenue of $6.47 billion during the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter last year, the firm earned $5.39 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis. Equities analysts anticipate that Broadcom Inc. will post 23.07 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 31st. Shareholders of record on Monday, December 21st were issued a $3.60 dividend. The ex-dividend date of this dividend was Friday, December 18th. This represents a $14.40 dividend on an annualized basis and a yield of 3.29%. This is an increase from Broadcom’s previous quarterly dividend of $3.25. Broadcom’s payout ratio is currently 78.05%.

Large investors have recently made changes to their positions in the business. TFC Financial Management acquired a new stake in shares of Broadcom in the third quarter valued at approximately $27,000. Provident Wealth Management LLC bought a new position in Broadcom during the 3rd quarter worth $28,000. Horan Securities Inc. acquired a new position in Broadcom in the 3rd quarter valued at $34,000. Northwest Investment Counselors LLC bought a new stake in shares of Broadcom during the 3rd quarter valued at $35,000. Finally, CVA Family Office LLC bought a new stake in shares of Broadcom during the 3rd quarter valued at $42,000. Hedge funds and other institutional investors own 75.25% of the company’s stock.

A number of research firms have weighed in on AVGO. KeyCorp reaffirmed a “buy” rating on shares of Broadcom in a research report on Monday, December 14th. Raymond James reaffirmed a “hold” rating on shares of Broadcom in a research report on Friday, September 4th. Mizuho boosted their price target on shares of Broadcom from $460.00 to $480.00 and gave the stock a “buy” rating in a research report on Monday, December 28th. Piper Sandler increased their price objective on shares of Broadcom from $380.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday, September 24th. Finally, Bank of America reaffirmed a “buy” rating and issued a $450.00 target price on shares of Broadcom in a research report on Friday, September 4th. Six analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Broadcom has a consensus rating of “Buy” and a consensus target price of $418.57.

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 three segments: Semiconductor Solutions, Infrastructure Software, and Intellectual Property licensing.

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