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

by · The Markets Daily

Broadcom Inc. (NASDAQ:AVGO – Get Free Report) insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Broadcom Stock Performance

Shares of AVGO opened at $176.82 on Thursday. The firm has a market cap of $823.08 billion, a price-to-earnings ratio of 7.61, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. The company’s fifty day moving average is $165.17 and its 200-day moving average is $152.58. Broadcom Inc. has a 12 month low of $81.83 and a 12 month high of $186.42. 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 – Get Free Report) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter last year, the company posted $0.95 earnings per share. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. Equities analysts expect that Broadcom Inc. will post 3.78 EPS for the current fiscal 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 issued a dividend of $0.53 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.20%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is currently 9.12%.

Hedge Funds Weigh In On Broadcom

A number of institutional investors and hedge funds have recently bought and sold shares of AVGO. Legend Financial Advisors Inc. grew its position in shares of Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 8 shares during the period. Richardson Capital Management LLC bought a new position in shares of Broadcom during the first quarter worth about $29,000. Delta Asset Management LLC TN raised its holdings in shares of Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new stake in Broadcom in the 1st quarter valued at $36,000. Finally, Tsfg LLC raised its holdings in Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 204 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research reports. Rosenblatt Securities decreased their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Benchmark reiterated a “buy” rating and issued a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. Truist Financial increased their price target on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Bank of America reaffirmed a “buy” rating and issued a $215.00 target price (up from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $191.54.

Get Our Latest Stock Analysis on AVGO

Broadcom Company Profile

(Get Free Report)

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.

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