Insider Selling: Broadcom Inc. (NASDAQ:AVGO) Director Sells 340 Shares of Stock

Broadcom Inc. (NASDAQ:AVGO) Director Justine Lien sold 340 shares of the business’s stock in a transaction dated Monday, September 13th. The stock was sold at an average price of $502.00, for a total transaction of $170,680.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Shares of AVGO stock opened at $506.00 on Friday. Broadcom Inc. has a one year low of $343.48 and a one year high of $510.70. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.23 and a current ratio of 2.41. The company has a 50 day moving average price of $486.48 and a 200 day moving average price of $471.61. The firm has a market capitalization of $208.28 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 1.39 and a beta of 0.93.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Wednesday, September 1st. The semiconductor manufacturer reported $6.96 EPS for the quarter, topping the consensus estimate of $6.88 by $0.08. Broadcom had a net margin of 22.90% and a return on equity of 44.27%. The firm had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.76 billion. During the same quarter in the prior year, the business posted $5.40 earnings per share. Broadcom’s revenue for the quarter was up 16.4% compared to the same quarter last year. As a group, equities analysts forecast that Broadcom Inc. will post 24.42 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Wednesday, September 22nd will be paid a dividend of $3.60 per share. The ex-dividend date of this dividend is Tuesday, September 21st. This represents a $14.40 annualized dividend and a yield of 2.85%. Broadcom’s dividend payout ratio is currently 78.05%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVGO. Ausdal Financial Partners Inc. grew its stake in Broadcom by 12.0% during the first quarter. Ausdal Financial Partners Inc. now owns 1,136 shares of the semiconductor manufacturer’s stock worth $527,000 after buying an additional 122 shares during the period. Unigestion Holding SA purchased a new stake in Broadcom during the first quarter worth approximately $439,000. Avidian Wealth Solutions LLC grew its stake in Broadcom by 5.1% during the first quarter. Avidian Wealth Solutions LLC now owns 2,237 shares of the semiconductor manufacturer’s stock worth $1,037,000 after buying an additional 108 shares during the period. Congress Asset Management Co. MA grew its stake in Broadcom by 0.4% during the first quarter. Congress Asset Management Co. MA now owns 19,436 shares of the semiconductor manufacturer’s stock worth $9,012,000 after buying an additional 86 shares during the period. Finally, Bridges Investment Management Inc. grew its stake in Broadcom by 6.3% during the first quarter. Bridges Investment Management Inc. now owns 4,709 shares of the semiconductor manufacturer’s stock worth $2,183,000 after buying an additional 278 shares during the period. Institutional investors own 80.28% of the company’s stock.

A number of research firms recently commented on AVGO. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Broadcom from $525.00 to $560.00 and gave the stock a “buy” rating in a report on Friday, September 3rd. KeyCorp boosted their price objective on shares of Broadcom from $565.00 to $575.00 and gave the stock an “overweight” rating in a report on Friday, September 3rd. Morgan Stanley upped their price target on shares of Broadcom from $555.00 to $572.00 and gave the company an “overweight” rating in a report on Friday, September 3rd. Citigroup reaffirmed a “buy” rating and issued a $585.00 price target (up previously from $528.00) on shares of Broadcom in a report on Friday, September 3rd. Finally, Barclays upped their price target on shares of Broadcom from $525.00 to $540.00 and gave the company an “overweight” rating in a report on Friday, September 3rd. Five research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $549.52.

Broadcom Company Profile

Broadcom, Inc is a global technology company, which designs, develops and supplies semiconductor and infrastructure software solutions. It operates through the following segments: Semiconductor Solutions and Infrastructure Software. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise and embedded networking applications.

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

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