Hock Tan Sells 148,154 Shares of Broadcom (NASDAQ:AVGO) Stock

Broadcom Inc. (NASDAQ:AVGO) CEO Hock Tan sold 148,154 shares of the business’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the completion of the sale, the chief executive officer owned 825,998 shares of the company’s stock, valued at approximately $278,088,746.66. This represents a 15.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Broadcom Trading Up 0.1%

NASDAQ:AVGO opened at $359.87 on Friday. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The firm has a market cap of $1.69 trillion, a P/E ratio of 91.80, a P/E/G ratio of 1.99 and a beta of 1.16. The firm has a 50-day simple moving average of $300.31 and a 200-day simple moving average of $241.98.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter in the previous year, the firm earned $1.24 EPS. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be given a $0.59 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s payout ratio is presently 60.20%.

Hedge Funds Weigh In On Broadcom

Large investors have recently made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Broadcom in the 1st quarter valued at $25,000. Cheviot Value Management LLC acquired a new position in shares of Broadcom in the 1st quarter valued at $25,000. Inlight Wealth Management LLC acquired a new position in shares of Broadcom in the 1st quarter valued at $26,000. Sawyer & Company Inc lifted its stake in shares of Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 36 shares during the period. Finally, Longfellow Investment Management Co. LLC acquired a new position in shares of Broadcom in the 2nd quarter valued at $27,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AVGO. Erste Group Bank raised shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Thursday, June 5th. Rosenblatt Securities lifted their price objective on shares of Broadcom from $340.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, September 5th. TD Cowen lifted their price objective on shares of Broadcom from $355.00 to $370.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Argus lifted their price objective on shares of Broadcom from $285.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, September 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $354.04.

About Broadcom

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.