Broadcom Inc. (NASDAQ:AVGO – Get Free Report) insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Broadcom Stock Down 1.0 %
Shares of NASDAQ:AVGO opened at $1,318.73 on Thursday. The stock has a market cap of $611.13 billion, a price-to-earnings ratio of 48.88, a PEG ratio of 2.81 and a beta of 1.26. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. The business’s 50 day moving average is $1,267.55 and its 200 day moving average is $1,061.46.
Broadcom (NASDAQ:AVGO – Get Free Report) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter in the previous year, the firm earned $9.83 earnings per share. Broadcom’s quarterly revenue was up 34.2% on a year-over-year basis. On average, sell-side analysts forecast that Broadcom Inc. will post 36.8 earnings per share for the current fiscal year.
Broadcom Dividend Announcement
Analyst Upgrades and Downgrades
Several research firms have weighed in on AVGO. Barclays began coverage on Broadcom in a research report on Wednesday, March 20th. They set an “overweight” rating and a $1,405.00 price objective on the stock. Truist Financial raised their price objective on Broadcom from $995.00 to $1,015.00 and gave the company a “buy” rating in a research note on Friday, December 8th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. Finally, Citigroup reissued a “buy” rating and set a $1,100.00 price target on shares of Broadcom in a research note on Monday, December 11th. Three investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,230.18.
Get Our Latest Stock Analysis on AVGO
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Broadcom during the 4th quarter valued at $6,225,987,000. Moneta Group Investment Advisors LLC raised its stake in shares of Broadcom by 122,794.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,667,161 shares of the semiconductor manufacturer’s stock valued at $2,050,420,000 after purchasing an additional 3,664,177 shares during the period. International Assets Investment Management LLC raised its stake in shares of Broadcom by 113,495.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock valued at $37,140,060,000 after purchasing an additional 3,324,288 shares during the period. Vanguard Group Inc. raised its stake in shares of Broadcom by 7.7% during the 4th quarter. Vanguard Group Inc. now owns 43,347,811 shares of the semiconductor manufacturer’s stock valued at $48,386,994,000 after purchasing an additional 3,089,798 shares during the period. Finally, Providence Capital Advisors LLC increased its stake in Broadcom by 49,919.1% in the 1st quarter. Providence Capital Advisors LLC now owns 2,437,432 shares of the semiconductor manufacturer’s stock worth $3,799,000 after acquiring an additional 2,432,559 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.
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.
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