Insider Selling: Broadcom Inc. (NASDAQ:AVGO) Insider Sells 5,000 Shares of Stock

Broadcom Inc. (NASDAQ:AVGO) insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the sale, the insider now owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Broadcom Trading Down 1.0 %

AVGO stock opened at $1,318.73 on Thursday. The firm has a market cap of $611.13 billion, a P/E ratio of 48.88, a PEG ratio of 2.81 and a beta of 1.26. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The company’s 50-day simple moving average is $1,267.55 and its 200-day simple moving average is $1,061.46. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period last year, the company posted $9.83 EPS. As a group, equities analysts forecast that Broadcom Inc. will post 36.8 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Thursday, March 21st will be given a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Wednesday, March 20th. Broadcom’s payout ratio is presently 77.84%.

Institutional Trading of Broadcom

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC acquired a new position in shares of Broadcom in the fourth quarter worth $7,482,000. Warren Street Wealth Advisors LLC boosted its stake in Broadcom by 6.5% in the fourth quarter. Warren Street Wealth Advisors LLC now owns 472 shares of the semiconductor manufacturer’s stock valued at $527,000 after acquiring an additional 29 shares in the last quarter. M3 Advisory Group LLC acquired a new position in Broadcom in the fourth quarter valued at $253,000. Hennessy Advisors Inc. acquired a new position in Broadcom in the fourth quarter valued at $153,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in Broadcom in the fourth quarter valued at $92,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Susquehanna upped their price target on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research report on Thursday, March 21st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Finally, Benchmark reaffirmed a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,230.18.

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.