Broadcom Inc. (NASDAQ:AVGO) Insider Charlie B. Kawwas Sells 15,950 Shares of Stock

Broadcom Inc. (NASDAQ:AVGO) insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Broadcom Trading Up 0.5 %

Shares of NASDAQ:AVGO opened at $176.82 on Thursday. The stock’s 50-day simple moving average is $165.17 and its two-hundred day simple moving average is $152.58. Broadcom Inc. has a 52-week low of $81.83 and a 52-week high of $186.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The stock has a market capitalization of $823.08 billion, a price-to-earnings ratio of 7.61, a PEG ratio of 2.99 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly 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. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.95 earnings per share. Analysts expect that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.20%. Broadcom’s dividend payout ratio is presently 9.12%.

Hedge Funds Weigh In On Broadcom

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Harbour Capital Advisors LLC lifted its stake in shares of Broadcom by 902.5% during the 3rd quarter. Harbour Capital Advisors LLC now owns 63,840 shares of the semiconductor manufacturer’s stock worth $11,871,000 after acquiring an additional 57,472 shares during the last quarter. NatWest Group plc boosted its position in Broadcom by 348.1% during the 3rd quarter. NatWest Group plc now owns 24,955 shares of the semiconductor manufacturer’s stock valued at $4,305,000 after acquiring an additional 19,386 shares in the last quarter. Bar Harbor Wealth Management boosted its position in Broadcom by 833.3% during the third quarter. Bar Harbor Wealth Management now owns 4,097 shares of the semiconductor manufacturer’s stock valued at $707,000 after purchasing an additional 3,658 shares in the last quarter. Sweet Financial Partners LLC grew its position in shares of Broadcom by 938.6% in the 3rd quarter. Sweet Financial Partners LLC now owns 21,633 shares of the semiconductor manufacturer’s stock worth $3,732,000 after buying an additional 19,550 shares during the last quarter. Finally, Redmont Wealth Advisors LLC grew its holdings in Broadcom by 900.0% in the third quarter. Redmont Wealth Advisors LLC now owns 270 shares of the semiconductor manufacturer’s stock worth $47,000 after purchasing an additional 243 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Bank of America reaffirmed a “buy” rating and issued a $215.00 price target (up previously from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Mizuho boosted their price objective on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday. JPMorgan Chase & Co. raised their target price on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Morgan Stanley upped their price target on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Two 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, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.54.

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.