Insider Selling: Broadcom Inc. (NASDAQ:AVGO) Director Sells 48,000 Shares of 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 transaction of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares in the company, valued at $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Broadcom Price Performance

NASDAQ:AVGO traded up $0.67 during trading hours on Wednesday, reaching $229.31. 18,720,163 shares of the company were exchanged, compared to its average volume of 27,016,766. The company has a market capitalization of $1.07 trillion, a P/E ratio of 199.23, a P/E/G ratio of 2.15 and a beta of 1.03. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The business has a 50 day moving average of $193.55 and a 200 day moving average of $174.58. Broadcom Inc. has a 1-year low of $106.26 and a 1-year high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the business earned $0.98 earnings per share. Broadcom’s revenue was up 51.2% on a year-over-year basis. Research analysts forecast that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.03%. Broadcom’s payout ratio is presently 191.87%.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent research reports. Robert W. Baird lifted their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Hsbc Global Res raised Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Cantor Fitzgerald increased their price objective on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Bank of America lifted their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $221.88.

Institutional Trading of Broadcom

Several large investors have recently made changes to their positions in the company. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Broadcom in the 2nd quarter valued at $128,000. Mark Sheptoff Financial Planning LLC bought a new position in Broadcom in the second quarter valued at about $136,000. WPWealth LLP acquired a new position in Broadcom during the second quarter worth about $204,000. AIMZ Investment Advisors LLC bought a new position in shares of Broadcom in the second quarter worth about $207,000. Finally, Inspire Advisors LLC acquired a new stake in shares of Broadcom in the 2nd quarter valued at approximately $211,000. Institutional investors and hedge funds 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.