Charlie B. Kawwas Sells 25,200 Shares of Broadcom Inc. (NASDAQ:AVGO) Stock

Broadcom Inc. (NASDAQ:AVGO) insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the transaction, the insider now directly owns 753,280 shares in the company, valued at $126,754,425.60. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Broadcom Stock Performance

NASDAQ AVGO opened at $174.84 on Wednesday. The firm has a market cap of $813.86 billion, a P/E ratio of 7.52, a P/E/G ratio of 2.55 and a beta of 1.16. Broadcom Inc. has a 52-week low of $80.44 and a 52-week high of $185.16. The business’s 50-day moving average price is $156.95 and its 200 day moving average price is $147.42. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same period last year, the business posted $0.95 EPS. The company’s revenue was up 47.3% on a year-over-year basis. On average, equities research analysts expect that Broadcom Inc. will post 3.77 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AVGO shares. Rosenblatt Securities dropped their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. Benchmark reiterated a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. Evercore ISI raised their target price on Broadcom from $162.00 to $201.00 and gave the company an “outperform” rating in a report on Thursday, June 13th. Melius Research started coverage on shares of Broadcom in a research note on Monday, June 3rd. They set a “buy” rating and a $185.00 price target on the stock. Finally, Citigroup reissued a “buy” rating and issued a $156.00 price objective on shares of Broadcom in a research note on Tuesday, June 11th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $189.23.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Swedbank AB acquired a new position in Broadcom during the 1st quarter worth approximately $2,835,737,000. Vanguard Group Inc. boosted its stake in shares of Broadcom by 3.0% in the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock valued at $59,181,244,000 after buying an additional 1,303,462 shares in the last quarter. Jennison Associates LLC grew its holdings in Broadcom by 43.9% during the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock worth $5,488,556,000 after acquiring an additional 1,263,957 shares during the period. Capital International Investors raised its position in Broadcom by 4.5% in the fourth quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer’s stock worth $26,044,294,000 after acquiring an additional 1,006,223 shares in the last quarter. Finally, GQG Partners LLC lifted its holdings in Broadcom by 48.9% in the first quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer’s stock valued at $3,966,730,000 after acquiring an additional 983,328 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various 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 in two segments, Semiconductor Solutions and Infrastructure Software.