Insider Selling: Broadcom Limited (AVGO) SVP Sells $2,406,200.00 in Stock
Broadcom Limited (NASDAQ:AVGO) SVP Bryan Ingram sold 10,000 shares of Broadcom Limited stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $240.62, for a total value of $2,406,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Bryan Ingram also recently made the following trade(s):
- On Thursday, September 14th, Bryan Ingram sold 30,000 shares of Broadcom Limited stock. The shares were sold at an average price of $244.01, for a total value of $7,320,300.00.
Broadcom Limited (NASDAQ AVGO) opened at 242.00 on Thursday. The firm has a market capitalization of $98.73 billion, a P/E ratio of 184.31 and a beta of 1.08. Broadcom Limited has a 1-year low of $160.62 and a 1-year high of $259.36. The company has a 50-day moving average price of $246.24 and a 200 day moving average price of $238.16.
Broadcom Limited (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.03 by $0.07. The firm had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.46 billion. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.89 earnings per share. Analysts expect that Broadcom Limited will post $15.91 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 19th were issued a dividend of $1.02 per share. The ex-dividend date was Monday, September 18th. This represents a $4.08 annualized dividend and a yield of 1.69%. Broadcom Limited’s dividend payout ratio is presently 348.72%.
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Several equities analysts have issued reports on the company. UBS AG reiterated a “buy” rating and issued a $265.00 target price on shares of Broadcom Limited in a research note on Monday, June 26th. Cowen and Company restated a “buy” rating and set a $260.00 price target on shares of Broadcom Limited in a research note on Friday, August 11th. B. Riley restated a “buy” rating and set a $305.00 price target on shares of Broadcom Limited in a research note on Saturday, August 26th. Craig Hallum restated a “buy” rating on shares of Broadcom Limited in a research note on Wednesday, September 13th. Finally, Pacific Crest restated an “overweight” rating and set a $280.00 price target on shares of Broadcom Limited in a research note on Wednesday, June 21st. One investment analyst has rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $276.80.
A number of hedge funds have recently modified their holdings of AVGO. Waldron LP acquired a new position in Broadcom Limited during the first quarter worth $302,000. Norinchukin Bank The raised its holdings in Broadcom Limited by 8.1% during the first quarter. Norinchukin Bank The now owns 26,060 shares of the semiconductor manufacturer’s stock worth $5,706,000 after purchasing an additional 1,956 shares during the last quarter. AGF Investments Inc. raised its holdings in Broadcom Limited by 23.8% during the first quarter. AGF Investments Inc. now owns 529,993 shares of the semiconductor manufacturer’s stock worth $115,959,000 after purchasing an additional 101,902 shares during the last quarter. HL Financial Services LLC raised its holdings in Broadcom Limited by 14.7% during the first quarter. HL Financial Services LLC now owns 4,053 shares of the semiconductor manufacturer’s stock worth $887,000 after purchasing an additional 520 shares during the last quarter. Finally, Palladium Partners LLC raised its holdings in Broadcom Limited by 1.7% during the first quarter. Palladium Partners LLC now owns 2,941 shares of the semiconductor manufacturer’s stock worth $644,000 after purchasing an additional 50 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.
About Broadcom Limited
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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