Insider Selling: Broadcom (NASDAQ:AVGO) Insider Sells 1,235 Shares of Stock

Broadcom Inc. (NASDAQ:AVGO) insider Charlie Kawwas sold 1,235 shares of Broadcom stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $340.98, for a total transaction of $421,110.30. Following the transaction, the insider directly owned 25,510 shares of the company’s stock, valued at $8,698,399.80. The trade was a 4.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Broadcom Trading Up 1.2%

Broadcom stock traded up $3.86 during mid-day trading on Thursday, hitting $329.88. The company’s stock had a trading volume of 54,325,954 shares, compared to its average volume of 35,720,564. The company has a 50 day moving average of $362.96 and a 200-day moving average of $319.95. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.58 and a current ratio of 1.71. The stock has a market cap of $1.56 trillion, a PE ratio of 69.30, a P/E/G ratio of 1.09 and a beta of 1.19. Broadcom Inc. has a one year low of $138.10 and a one year high of $414.61.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, topping the consensus estimate of $1.87 by $0.08. The company had revenue of $18.02 billion for the quarter, compared to the consensus estimate of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.Broadcom’s quarterly revenue was up 28.2% on a year-over-year basis. During the same period last year, the business posted $1.42 EPS. On average, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, December 22nd. This is a boost from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s dividend payout ratio is currently 49.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AVGO shares. Evercore ISI increased their target price on shares of Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Truist Financial set a $500.00 price target on Broadcom in a research report on Friday, December 12th. Deutsche Bank Aktiengesellschaft set a $430.00 target price on Broadcom and gave the stock a “buy” rating in a research note on Friday, December 12th. Piper Sandler reiterated an “overweight” rating and issued a $430.00 price target (up from $375.00) on shares of Broadcom in a research note on Friday, December 12th. Finally, UBS Group set a $475.00 price target on Broadcom and gave the stock a “buy” rating in a research note on Monday. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Broadcom has an average rating of “Buy” and a consensus target price of $435.96.

Hedge Funds Weigh In On Broadcom

A number of institutional investors have recently modified their holdings of the stock. Sawyer & Company Inc lifted its holdings in Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 36 shares during the period. JCIC Asset Management Inc. purchased a new stake in shares of Broadcom in the third quarter valued at approximately $31,000. Longfellow Investment Management Co. LLC acquired a new position in shares of Broadcom during the 2nd quarter worth approximately $27,000. Legend Financial Advisors Inc. purchased a new position in shares of Broadcom during the 2nd quarter valued at approximately $28,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in Broadcom in the 2nd quarter valued at $28,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

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.