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 that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the sale, the insider now owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 stock was sold at an average price of $182.88, for a total value of $3,456,432.00.
• On Monday, October 7th, Mark David Brazeal sold 20,280 shares of Broadcom stock. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00.

Broadcom Price Performance

NASDAQ AVGO traded down $3.61 on Friday, hitting $241.75. 29,222,434 shares of the company were exchanged, compared to its average volume of 30,518,758. Broadcom Inc. has a 1-year low of $104.15 and a 1-year high of $251.88. The firm has a 50 day moving average of $184.30 and a two-hundred day moving average of $170.51. 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 company has a market cap of $1.13 trillion, a P/E ratio of 210.03, a P/E/G ratio of 2.15 and a beta of 1.13.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS 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 company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period last year, the firm earned $0.98 EPS. The business’s revenue for the quarter was up 51.2% on a year-over-year basis. On average, equities analysts predict that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AVGO. Castleview Partners LLC boosted its stake in Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. boosted its position in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. JDM Financial Group LLC grew its stake in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares during the period. Tsfg LLC increased its holdings in Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 204 shares during the last quarter. Finally, Cedar Wealth Management LLC lifted its stake in Broadcom by 900.0% in the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock valued at $41,000 after buying an additional 216 shares during the period. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research analyst reports. Morgan Stanley upped their price target on shares of Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Mizuho upped their target price on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. William Blair initiated coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Robert W. Baird increased their price target on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, 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. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.