Broadcom Inc. (NASDAQ:AVGO – Get Free Report) insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Broadcom Trading Up 1.1 %
AVGO traded up $1.84 on Monday, hitting $172.94. The company had a trading volume of 29,417,416 shares, compared to its average volume of 31,737,875. The firm has a market cap of $805.01 billion, a P/E ratio of 7.44, a PEG ratio of 2.55 and a beta of 1.16. Broadcom Inc. has a 1 year low of $80.44 and a 1 year high of $185.16. The company’s fifty day moving average price is $156.81 and its 200 day moving average price is $146.91. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.
Broadcom (NASDAQ:AVGO – Get Free Report) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to analyst estimates 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 in the previous year, the firm earned $0.95 EPS. As a group, equities analysts expect that Broadcom Inc. will post 3.77 earnings per share for the current year.
Broadcom Increases Dividend
Wall Street Analyst Weigh In
A number of research firms recently issued reports on AVGO. The Goldman Sachs Group lifted their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Barclays lifted their price target on shares of Broadcom from $150.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, June 13th. William Blair began coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Sanford C. Bernstein lifted their price target on shares of Broadcom from $160.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Finally, Bank of America reaffirmed a “buy” rating and set a $215.00 target price (up previously from $200.00) on shares of Broadcom in a research note on Monday, June 24th. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $189.23.
Read Our Latest Report on Broadcom
Institutional Trading of Broadcom
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Broadcom by 3.0% during the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after purchasing an additional 1,303,462 shares during the period. Capital International Investors increased its stake in Broadcom by 4.5% during the fourth quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer’s stock worth $26,044,294,000 after purchasing an additional 1,006,223 shares during the period. Northern Trust Corp increased its stake in Broadcom by 3.7% during the fourth quarter. Northern Trust Corp now owns 4,825,465 shares of the semiconductor manufacturer’s stock worth $5,386,425,000 after purchasing an additional 170,063 shares during the period. Jennison Associates LLC increased its stake in Broadcom by 43.9% during the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock worth $5,488,556,000 after purchasing an additional 1,263,957 shares during the period. Finally, Legal & General Group Plc increased its stake in Broadcom by 2.2% during the second quarter. Legal & General Group Plc now owns 3,963,063 shares of the semiconductor manufacturer’s stock worth $6,362,816,000 after purchasing an additional 83,846 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.
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.
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