Broadcom Inc. (NASDAQ:AVGO) Director Henry Samueli Sells 663,976 Shares

Broadcom Inc. (NASDAQ:AVGO) Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. This represents a 1.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Broadcom Stock Performance

Shares of AVGO stock opened at $169.12 on Friday. The business has a fifty day moving average of $209.48 and a 200 day moving average of $195.91. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm has a market capitalization of $795.19 billion, a price-to-earnings ratio of 137.95, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AVGO shares. KeyCorp upped their target price on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Robert W. Baird increased their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. JPMorgan Chase & Co. raised their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Benchmark reiterated a “buy” rating and set a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Finally, Barclays boosted their price objective on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Institutional Investors Weigh In On Broadcom

Large investors have recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. lifted its stake in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares during the period. Canton Hathaway LLC purchased a new position in shares of Broadcom during the fourth quarter worth $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom during the fourth quarter worth $26,000. Sunbeam Capital Management LLC acquired a new position in Broadcom during the fourth quarter valued at $28,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in Broadcom in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

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.