Check Kian Low Sells 48,000 Shares of Broadcom Inc. (NASDAQ:AVGO) Stock

Broadcom Inc. (NASDAQ:AVGO) Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Broadcom Trading Up 0.3 %

Shares of NASDAQ:AVGO traded up $0.67 during mid-day trading on Wednesday, reaching $229.31. The stock had a trading volume of 18,720,163 shares, compared to its average volume of 27,016,766. The firm has a 50 day simple moving average of $193.55 and a two-hundred day simple moving average of $174.58. Broadcom Inc. has a twelve month low of $106.26 and a twelve month high of $251.88. The firm has a market cap of $1.07 trillion, a PE ratio of 199.23, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period last year, the business posted $0.98 earnings per share. The business’s revenue for the quarter was up 51.2% compared to the same quarter last year. On average, research analysts predict that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is 191.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AVGO shares. Evercore ISI lifted their price objective on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Rosenblatt Securities restated a “buy” rating and issued a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. Truist Financial lifted their price objective on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, UBS Group increased their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $221.88.

Institutional Trading of Broadcom

A number of large investors have recently bought and sold shares of AVGO. Michael S. Ryan Inc. boosted its holdings in shares of Broadcom by 0.7% in the fourth quarter. Michael S. Ryan Inc. now owns 8,959 shares of the semiconductor manufacturer’s stock valued at $2,077,000 after buying an additional 61 shares during the period. Private Client Services LLC increased its holdings in Broadcom by 2.1% during the 4th quarter. Private Client Services LLC now owns 3,269 shares of the semiconductor manufacturer’s stock worth $758,000 after purchasing an additional 67 shares in the last quarter. Fulton Bank N.A. raised its stake in shares of Broadcom by 9.7% in the 4th quarter. Fulton Bank N.A. now owns 96,602 shares of the semiconductor manufacturer’s stock valued at $22,396,000 after purchasing an additional 8,545 shares during the period. Collective Family Office LLC lifted its holdings in shares of Broadcom by 3.4% in the fourth quarter. Collective Family Office LLC now owns 3,010 shares of the semiconductor manufacturer’s stock valued at $698,000 after purchasing an additional 100 shares in the last quarter. Finally, Park National Corp OH boosted its position in shares of Broadcom by 8.9% during the fourth quarter. Park National Corp OH now owns 11,912 shares of the semiconductor manufacturer’s stock worth $2,762,000 after buying an additional 974 shares during the period. 76.43% of the stock is owned by institutional investors.

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.