Mark David Brazeal Sells 20,168 Shares of Broadcom Inc. (NASDAQ:AVGO) 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 directly owns 321,660 shares of the company’s stock, valued at $76,809,191.40. The trade was a 5.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00.
• On Monday, October 7th, Mark David Brazeal sold 20,280 shares of Broadcom stock. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00.

Broadcom Stock Performance

AVGO traded down $3.61 during trading on Friday, hitting $241.75. The stock had a trading volume of 29,222,434 shares, compared to its average volume of 30,518,758. The company has a 50 day moving average price of $184.30 and a 200-day moving average price of $170.51. The firm has a market cap of $1.13 trillion, a price-to-earnings ratio of 210.03, a P/E/G ratio of 2.15 and a beta of 1.13. Broadcom Inc. has a one year low of $104.15 and a one year high of $251.88. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

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

Broadcom Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AVGO shares. Hsbc Global Res raised Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. TD Cowen raised their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. UBS Group upped their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Mizuho raised their price objective on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Barclays upped their target price on shares of Broadcom from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $221.88.

Institutional Investors Weigh In On Broadcom

A number of hedge funds have recently made changes to their positions in the stock. AXA S.A. boosted its holdings in Broadcom by 2.7% in the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock valued at $467,334,000 after acquiring an additional 7,608 shares during the last quarter. Strait & Sound Wealth Management LLC grew its position in shares of Broadcom by 829.8% during the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after buying an additional 7,095 shares during the period. Catalyst Financial Partners LLC increased its stake in shares of Broadcom by 943.3% in the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock valued at $3,473,000 after acquiring an additional 18,206 shares in the last quarter. Whittier Trust Co. lifted its position in shares of Broadcom by 947.2% during the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock valued at $119,000,000 after acquiring an additional 623,983 shares during the period. Finally, Tidal Investments LLC boosted its stake in Broadcom by 969.3% during the third quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock worth $66,696,000 after acquiring an additional 350,485 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

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.