Broadcom Inc. (NASDAQ:AVGO) Insider Sells $4,815,916.72 in Stock

Broadcom Inc. (NASDAQ:AVGO) insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Mark David Brazeal also recently made the following trade(s):

• On Wednesday, October 9th, Mark David Brazeal sold 18,900 shares of Broadcom stock. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00.
• On Monday, October 7th, Mark David Brazeal sold 20,280 shares of Broadcom stock. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00.

Broadcom Stock Performance

AVGO stock opened at $241.75 on Friday. Broadcom Inc. has a 1-year low of $104.15 and a 1-year high of $251.88. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm has a market cap of $1.13 trillion, a PE ratio of 210.03, a P/E/G ratio of 2.15 and a beta of 1.13. The business’s 50-day moving average price is $185.54 and its two-hundred day moving average price is $171.21.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the previous year, the business posted $0.98 EPS. Broadcom’s revenue for the quarter was up 51.2% on a year-over-year basis. As a group, research analysts forecast that Broadcom Inc. will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be given a dividend of $0.59 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date is Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.98%. Broadcom’s dividend payout ratio is currently 191.87%.

Institutional Investors Weigh In On Broadcom

Several institutional investors have recently added to or reduced their stakes in the stock. Independent Solutions Wealth Management LLC increased its holdings in Broadcom by 846.9% during the 3rd quarter. Independent Solutions Wealth Management LLC now owns 49,136 shares of the semiconductor manufacturer’s stock worth $8,476,000 after purchasing an additional 43,947 shares in the last quarter. Syntax Research Inc. boosted its position in shares of Broadcom by 882.8% during the third quarter. Syntax Research Inc. now owns 6,899 shares of the semiconductor manufacturer’s stock worth $1,190,000 after buying an additional 6,197 shares during the period. SMART Wealth LLC bought a new position in shares of Broadcom during the third quarter worth about $662,000. Lord Abbett & CO. LLC raised its position in Broadcom by 762.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 2,181,786 shares of the semiconductor manufacturer’s stock valued at $376,358,000 after buying an additional 1,928,907 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its stake in Broadcom by 624.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 138,687 shares of the semiconductor manufacturer’s stock valued at $23,889,000 after acquiring an additional 119,553 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on AVGO. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Susquehanna upped their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. The Goldman Sachs Group boosted their target price on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. JPMorgan Chase & Co. boosted their price objective on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, UBS Group lifted their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $221.88.

About Broadcom

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.