Broadcom Inc. (NASDAQ:AVGO) Insider Mark David Brazeal Sells 18,900 Shares of Stock

Broadcom Inc. (NASDAQ:AVGO) insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the transaction, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Mark David Brazeal also recently made the following trade(s):

• On Monday, October 7th, Mark David Brazeal sold 20,280 shares of Broadcom stock. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00.

Broadcom Stock Performance

Shares of Broadcom stock opened at $181.48 on Friday. Broadcom Inc. has a 12 month low of $81.83 and a 12 month high of $186.42. The firm has a market capitalization of $847.62 billion, a P/E ratio of 157.67, a P/E/G ratio of 2.99 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The business has a fifty day simple moving average of $162.91 and a two-hundred day simple moving average of $151.64.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom’s revenue was up 47.3% on a year-over-year basis. During the same period last year, the company posted $0.95 EPS. On average, equities analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a $0.53 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s payout ratio is currently 184.19%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legend Financial Advisors Inc. grew its stake in shares of Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 8 shares during the last quarter. Richardson Capital Management LLC purchased a new stake in Broadcom during the 1st quarter valued at about $29,000. Delta Asset Management LLC TN increased its stake in Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 17 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new position in Broadcom in the first quarter worth about $36,000. Finally, Creekmur Asset Management LLC bought a new position in shares of Broadcom in the fourth quarter worth approximately $43,000. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AVGO shares. Bank of America restated a “buy” rating and set a $215.00 price target (up from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Truist Financial raised their price target on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Oppenheimer cut their target price on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. Finally, StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.29.

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.