Insider Selling: Broadcom Inc. (NASDAQ:AVGO) Director Sells 254 Shares of Stock

Broadcom Inc. (NASDAQ:AVGOGet Free Report) Director Justine Page sold 254 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $1,750.26, for a total value of $444,566.04. Following the transaction, the director now directly owns 2,748 shares of the company’s stock, valued at approximately $4,809,714.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Justine Page also recently made the following trade(s):

  • On Wednesday, April 10th, Justine Page sold 110 shares of Broadcom stock. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00.

Broadcom Stock Down 4.0 %

NASDAQ AVGO traded down $66.42 during mid-day trading on Monday, reaching $1,592.21. 5,850,162 shares of the company’s stock traded hands, compared to its average volume of 3,119,616. The company has a current ratio of 1.25, a quick ratio of 1.16 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 1-year low of $795.09 and a 1-year high of $1,851.62. The company has a fifty day simple moving average of $1,402.28 and a 200-day simple moving average of $1,285.03. The company has a market cap of $741.16 billion, a price-to-earnings ratio of 69.66, a P/E/G ratio of 3.04 and a beta of 1.17.

Shares of Broadcom are scheduled to split before the market opens on Monday, July 15th. The 10-1 split was announced on Wednesday, June 12th. The newly issued shares will be distributed to shareholders after the market closes on Friday, July 12th.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its quarterly earnings data on Wednesday, June 12th. The semiconductor manufacturer reported $10.96 EPS for the quarter, beating analysts’ consensus estimates of $10.78 by $0.18. The firm had revenue of $12.49 billion for the quarter, compared to the consensus estimate of $12.06 billion. Broadcom had a net margin of 24.10% and a return on equity of 35.82%. The firm’s revenue was up 43.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.51 EPS. As a group, equities research analysts expect that Broadcom Inc. will post 36.87 EPS for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 24th will be paid a $5.25 dividend. The ex-dividend date is Monday, June 24th. This represents a $21.00 dividend on an annualized basis and a yield of 1.32%. Broadcom’s dividend payout ratio (DPR) is 90.32%.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of recent research reports. Citigroup reiterated a “buy” rating and set a $1,560.00 price target on shares of Broadcom in a report on Tuesday, June 11th. Mizuho boosted their price target on Broadcom from $1,625.00 to $1,900.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Evercore ISI lifted their price objective on Broadcom from $1,620.00 to $2,010.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. Barclays upped their target price on Broadcom from $1,500.00 to $2,000.00 and gave the company an “overweight” rating in a research note on Thursday, June 13th. Finally, UBS Group raised their price target on Broadcom from $1,610.00 to $1,735.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Three analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,673.04.

View Our Latest Stock Analysis on Broadcom

Institutional Trading of Broadcom

Several institutional investors and hedge funds have recently bought and sold shares of AVGO. Paralel Advisors LLC boosted its position in Broadcom by 1.3% during the 3rd quarter. Paralel Advisors LLC now owns 2,983 shares of the semiconductor manufacturer’s stock valued at $2,478,000 after purchasing an additional 37 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Broadcom by 2.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,354 shares of the semiconductor manufacturer’s stock valued at $2,786,000 after acquiring an additional 82 shares during the period. PGIM Custom Harvest LLC bought a new position in shares of Broadcom during the third quarter worth about $225,000. Operose Advisors LLC acquired a new stake in shares of Broadcom in the 3rd quarter worth about $148,000. Finally, O Shaughnessy Asset Management LLC lifted its position in Broadcom by 25.6% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 36,533 shares of the semiconductor manufacturer’s stock valued at $30,344,000 after purchasing an additional 7,445 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

About Broadcom

(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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Insider Buying and Selling by Quarter for Broadcom (NASDAQ:AVGO)

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