Insider Selling: Broadcom (NASDAQ:AVGO) Insider Sells 38,281 Shares of Stock

by · The Markets Daily

Broadcom Inc. (NASDAQ:AVGOGet Free Report) insider Mark David Brazeal sold 38,281 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total value of $12,542,769.65. Following the completion of the sale, the insider owned 266,494 shares of the company’s stock, valued at $87,316,759.10. This trade represents a 12.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

  • On Tuesday, December 16th, Mark David Brazeal sold 24,527 shares of Broadcom stock. The shares were sold at an average price of $340.91, for a total transaction of $8,361,499.57.

Broadcom Stock Performance

AVGO traded up $10.48 during trading hours on Friday, reaching $340.36. The company’s stock had a trading volume of 158,799,684 shares, compared to its average volume of 26,925,818. The company’s 50-day moving average is $362.66 and its 200-day moving average is $320.02. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $414.61. The firm has a market cap of $1.61 trillion, a PE ratio of 71.50, a price-to-earnings-growth ratio of 1.09 and a beta of 1.19. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.58 and a current ratio of 1.71.

Broadcom (NASDAQ:AVGOGet Free Report) last announced its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. The business had revenue of $18.02 billion for the quarter, compared to analyst estimates of $17.46 billion. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. Broadcom’s quarterly revenue was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.42 EPS. On average, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd will be paid a dividend of $0.65 per share. The ex-dividend date is Monday, December 22nd. This is a boost from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 annualized dividend and a yield of 0.8%. Broadcom’s dividend payout ratio is currently 54.62%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AVGO. Arthur M. Cohen & Associates LLC boosted its stake in Broadcom by 0.6% during the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 4,781 shares of the semiconductor manufacturer’s stock valued at $1,577,000 after purchasing an additional 30 shares during the last quarter. Jackson Hole Capital Partners LLC boosted its stake in shares of Broadcom by 1.4% in the third quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer’s stock worth $716,000 after acquiring an additional 30 shares during the period. Private Wealth Partners LLC grew its position in shares of Broadcom by 0.7% during the third quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer’s stock worth $1,410,000 after purchasing an additional 30 shares in the last quarter. Planning Alternatives Ltd. ADV increased its holdings in shares of Broadcom by 1.4% in the third quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer’s stock worth $715,000 after purchasing an additional 30 shares during the last quarter. Finally, Bell Investment Advisors Inc increased its holdings in shares of Broadcom by 1.9% in the 3rd quarter. Bell Investment Advisors Inc now owns 1,638 shares of the semiconductor manufacturer’s stock worth $540,000 after buying an additional 30 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Citigroup restated a “buy” rating and issued a $480.00 price target (up from $415.00) on shares of Broadcom in a research report on Friday, December 12th. Weiss Ratings restated a “buy (b-)” rating on shares of Broadcom in a research note on Monday. Piper Sandler reissued an “overweight” rating and set a $430.00 target price (up from $375.00) on shares of Broadcom in a research report on Friday, December 12th. JPMorgan Chase & Co. raised their price target on shares of Broadcom from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Finally, Rosenblatt Securities lifted their price target on Broadcom from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Broadcom presently has an average rating of “Buy” and an average price target of $436.33.

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Broadcom Company Profile

(Get Free Report)

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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