Insider Selling: Broadcom Ltd (AVGO) Insider Sells $14,548,950.00 in Stock
Broadcom Ltd (NASDAQ:AVGO) insider Hock E. Tan sold 65,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $223.83, for a total value of $14,548,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Hock E. Tan also recently made the following trade(s):
- On Wednesday, March 8th, Hock E. Tan sold 7,586 shares of Broadcom stock. The shares were sold at an average price of $220.00, for a total value of $1,668,920.00.
- On Monday, March 6th, Hock E. Tan sold 65,000 shares of Broadcom stock. The shares were sold at an average price of $216.79, for a total value of $14,091,350.00.
Shares of Broadcom Ltd (NASDAQ:AVGO) opened at 221.24 on Tuesday. Broadcom Ltd has a 12 month low of $139.18 and a 12 month high of $227.75. The stock’s market capitalization is $88.80 billion. The stock has a 50 day moving average price of $212.50 and a 200 day moving average price of $184.08.
Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, March 1st. The semiconductor manufacturer reported $3.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.48 by $0.15. Broadcom had a positive return on equity of 22.77% and a negative net margin of 13.13%. The business earned $4.15 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter last year, the firm earned $2.41 earnings per share. The company’s revenue for the quarter was up 132.8% compared to the same quarter last year. On average, analysts anticipate that Broadcom Ltd will post $14.85 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Monday, March 20th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.84%. Broadcom’s dividend payout ratio (DPR) is currently -100.49%.
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Several large investors have recently bought and sold shares of AVGO. Vident Investment Advisory LLC bought a new stake in Broadcom during the fourth quarter worth about $382,000. Norges Bank bought a new stake in Broadcom during the fourth quarter worth about $589,052,000. WFG Advisors LP raised its stake in Broadcom by 52,332.0% in the fourth quarter. WFG Advisors LP now owns 314,592 shares of the semiconductor manufacturer’s stock worth $3,869,000 after buying an additional 313,992 shares during the period. Putnam Investments LLC raised its stake in Broadcom by 14.5% in the fourth quarter. Putnam Investments LLC now owns 811,639 shares of the semiconductor manufacturer’s stock worth $143,474,000 after buying an additional 103,093 shares during the period. Finally, Pittenger & Anderson Inc. raised its stake in Broadcom by 2.8% in the fourth quarter. Pittenger & Anderson Inc. now owns 6,952 shares of the semiconductor manufacturer’s stock worth $1,229,000 after buying an additional 190 shares during the period. Institutional investors and hedge funds own 91.85% of the company’s stock.
A number of brokerages recently weighed in on AVGO. Zacks Investment Research raised Broadcom from a “sell” rating to a “hold” rating in a report on Monday, February 27th. Cowen and Company reaffirmed an “outperform” rating and set a $240.00 price objective (up previously from $210.00) on shares of Broadcom in a report on Monday, February 27th. Royal Bank of Canada reaffirmed a “top pick” rating on shares of Broadcom in a report on Wednesday, January 18th. Vetr raised Broadcom from a “sell” rating to a “hold” rating and set a $195.55 price objective on the stock in a report on Tuesday, January 31st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of Broadcom in a report on Thursday, March 2nd. Two analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $227.58.
Broadcom Company Profile
Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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