Broadcom (NASDAQ:AVGO) Insider Sells $1,270,481.49 in Stock

Broadcom Inc. (NASDAQ:AVGO) insider Mark David Brazeal sold 3,327 shares of Broadcom stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $381.87, for a total transaction of $1,270,481.49. Following the sale, the insider directly owned 274,814 shares of the company’s stock, valued at $104,943,222.18. This represents a 1.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, June 17th, Mark David Brazeal sold 4,825 shares of Broadcom stock. The shares were sold at an average price of $394.91, for a total value of $1,905,440.75.

Broadcom Trading Up 4.7%

NASDAQ:AVGO traded up $18.45 during midday trading on Thursday, hitting $411.35. The stock had a trading volume of 44,996,695 shares, compared to its average volume of 26,381,672. Broadcom Inc. has a one year low of $244.17 and a one year high of $495.00. The company has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 68.56, a PEG ratio of 0.66 and a beta of 1.41. The stock has a 50-day moving average of $408.66 and a 200 day moving average of $363.11. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same period in the previous year, the company posted $1.58 EPS. Broadcom’s revenue was up 47.9% on a year-over-year basis. As a group, sell-side analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be paid a dividend of $0.65 per share. The ex-dividend date is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. Broadcom’s dividend payout ratio (DPR) is currently 43.33%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Royal Bank Of Canada increased their target price on shares of Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, June 4th. The Goldman Sachs Group restated a “buy” rating and issued a $525.00 price target on shares of Broadcom in a report on Thursday, June 4th. Bank of America increased their price objective on shares of Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. UBS Group set a $485.00 price objective on shares of Broadcom and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $515.00 price objective (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average price target of $490.13.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom expanded its cash tender offer to $3 billion from $2.5 billion after strong investor interest, a move that signals confidence in its balance sheet and can reduce future interest expense. Article: Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan reiterated a bullish view, saying investors should be “aggressive buyers” of Broadcom and arguing the market underestimates the company’s long-term AI opportunity, which has helped support the stock. Article: AVGO stock jumps — JPMorgan says investors should be ‘aggressive buyers’ of Broadcom at current levels
• Positive Sentiment: Analyst commentary continues to highlight Broadcom’s AI chip pipeline and multi-year growth outlook, reinforcing investor enthusiasm for its custom silicon business. Article: Broadcom’s Massive AI Pipeline Secures Multi-Year Growth, Analyst Says
• Neutral Sentiment: Broadcom’s recent earnings and outlook remain a backdrop for the move, with the company having recently beaten EPS and revenue estimates and posted strong year-over-year growth, but investors are still weighing high expectations and valuation.

Hedge Funds Weigh In On Broadcom

Large investors have recently added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC grew its position in shares of Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 66 shares during the last quarter. Networth Advisors LLC lifted its position in Broadcom by 546.2% during the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 71 shares during the last quarter. SWAN Capital LLC boosted its stake in Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 55 shares in the last quarter. Miller Global Investments LLC purchased a new position in Broadcom in the fourth quarter worth $31,000. Finally, Nvest Wealth Strategies Inc. purchased a new position in Broadcom in the fourth quarter worth $33,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.