Broadcom (NASDAQ:AVGO) Director Justine Page Sells 800 Shares of Stock

Broadcom Inc. (NASDAQ:AVGO) Director Justine Page sold 800 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $361.89, for a total transaction of $289,512.00. Following the sale, the director directly owned 20,582 shares of the company’s stock, valued at approximately $7,448,419.98. This represents a 3.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, November 14th, Justine Page sold 800 shares of Broadcom stock. The stock was sold at an average price of $331.14, for a total value of $264,912.00.
• On Tuesday, October 14th, Justine Page sold 800 shares of Broadcom stock. The shares were sold at an average price of $350.15, for a total value of $280,120.00.

Broadcom Stock Performance

AVGO traded up $0.16 during midday trading on Thursday, reaching $326.18. The company had a trading volume of 6,312,406 shares, compared to its average volume of 26,179,037. The company has a market cap of $1.54 trillion, a P/E ratio of 68.92, a P/E/G ratio of 1.15 and a beta of 1.19. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $414.61. The business has a 50-day moving average of $362.96 and a two-hundred day moving average of $319.95. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The company had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $17.46 billion. During the same quarter in the previous year, the company earned $1.42 EPS. Broadcom’s revenue for the quarter was up 28.2% on a year-over-year basis. As a group, equities research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be given a dividend of $0.65 per share. The ex-dividend date is Monday, December 22nd. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. Broadcom’s dividend payout ratio (DPR) is 49.58%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Evercore ISI increased their price target on Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Macquarie started coverage on shares of Broadcom in a report on Monday, September 15th. They issued an “outperform” rating and a $420.00 target price for the company. Truist Financial set a $500.00 price target on shares of Broadcom in a research note on Friday, December 12th. The Goldman Sachs Group set a $435.00 price objective on shares of Broadcom and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Finally, Cowen restated a “buy” rating on shares of Broadcom in a research report on Friday, December 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $435.96.

Institutional Investors Weigh In On Broadcom

Institutional investors and hedge funds have recently modified their holdings of the business. Brighton Jones LLC increased its stake in Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after buying an additional 5,322 shares during the period. Revolve Wealth Partners LLC increased its holdings in Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after purchasing an additional 756 shares during the period. United Bank raised its position in Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after purchasing an additional 1,014 shares in the last quarter. Senator Investment Group LP purchased a new position in Broadcom during the first quarter valued at approximately $29,759,000. Finally, Colonial Trust Advisors lifted its holdings in Broadcom by 161.4% during the first quarter. Colonial Trust Advisors now owns 8,376 shares of the semiconductor manufacturer’s stock worth $1,402,000 after buying an additional 5,172 shares during the period. 76.43% of the stock is owned by institutional investors.

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.