Broadcom Ltd (NASDAQ:AVGO) insider Henry Samueli sold 3,077 shares of the company’s stock in a transaction on Friday, March 17th. The stock was sold at an average price of $222.25, for a total transaction of $683,863.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Henry Samueli also recently made the following trade(s):
- On Tuesday, February 7th, Henry Samueli sold 10,162 shares of Broadcom stock. The stock was sold at an average price of $205.82, for a total transaction of $2,091,542.84.
Shares of Broadcom Ltd (NASDAQ:AVGO) traded up 0.03% on Monday, hitting $221.24. 1,721,474 shares of the stock traded hands. Broadcom Ltd has a 1-year low of $139.18 and a 1-year high of $227.75. The stock has a 50 day moving average of $212.50 and a 200-day moving average of $184.08. The stock’s market cap is $88.80 billion.
Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Wednesday, March 1st. The semiconductor manufacturer reported $3.63 EPS for the quarter, beating the Zacks’ consensus estimate of $3.48 by $0.15. The business earned $4.15 billion during the quarter, compared to the consensus estimate of $4.08 billion. Broadcom had a positive return on equity of 22.77% and a negative net margin of 13.13%. Broadcom’s revenue for the quarter was up 132.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.41 earnings per share. On average, equities research analysts expect that Broadcom Ltd will post $14.85 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Monday, March 20th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Thursday, March 16th. Broadcom’s dividend payout ratio (DPR) is presently -100.49%.
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Several research firms recently issued reports on AVGO. Barclays PLC reaffirmed an “overweight” rating and set a $250.00 price objective (up from $240.00) on shares of Broadcom in a report on Friday, March 10th. Zacks Investment Research raised shares of Broadcom from a “hold” rating to a “strong-buy” rating and set a $251.00 price objective for the company in a report on Tuesday, March 7th. B. Riley reaffirmed a “buy” rating and set a $260.00 price objective on shares of Broadcom in a report on Tuesday, March 7th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $222.50 price objective (up from $165.00) on shares of Broadcom in a report on Friday, March 3rd. Finally, Argus upped their price objective on shares of Broadcom from $217.29 to $250.00 and gave the stock a “buy” rating in a report on Friday, March 3rd. Two investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $227.58.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Guardian Capital LP increased its position in Broadcom by 6.1% in the fourth quarter. Guardian Capital LP now owns 83,891 shares of the semiconductor manufacturer’s stock worth $14,829,000 after buying an additional 4,817 shares during the period. First Republic Investment Management Inc. increased its position in Broadcom by 1.5% in the fourth quarter. First Republic Investment Management Inc. now owns 283,091 shares of the semiconductor manufacturer’s stock worth $50,043,000 after buying an additional 4,294 shares during the period. Envestnet Asset Management Inc. increased its position in Broadcom by 8.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 113,307 shares of the semiconductor manufacturer’s stock worth $20,027,000 after buying an additional 8,602 shares during the period. Intact Investment Management Inc. bought a new position in Broadcom during the fourth quarter worth approximately $265,000. Finally, ZWJ Investment Counsel Inc. increased its position in Broadcom by 3.5% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 96,740 shares of the semiconductor manufacturer’s stock worth $17,100,000 after buying an additional 3,278 shares during the period. 91.85% of the stock is owned by institutional investors and hedge funds.
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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