Hock E. Tan Sells 20,000 Shares of Broadcom Limited (AVGO) Stock
Broadcom Limited (NASDAQ:AVGO) insider Hock E. Tan sold 20,000 shares of the stock in a transaction on Monday, October 16th. The stock was sold at an average price of $247.83, for a total value of $4,956,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Hock E. Tan also recently made the following trade(s):
- On Friday, September 15th, Hock E. Tan sold 20,000 shares of Broadcom Limited stock. The shares were sold at an average price of $246.48, for a total value of $4,929,600.00.
Broadcom Limited (NASDAQ AVGO) traded down 1.64% during mid-day trading on Tuesday, hitting $242.62. The company had a trading volume of 2,696,543 shares. Broadcom Limited has a 52-week low of $160.62 and a 52-week high of $259.36. The firm has a market cap of $98.98 billion, a P/E ratio of 184.78 and a beta of 1.08. The stock’s 50 day moving average price is $245.16 and its 200 day moving average price is $239.72.
Broadcom Limited (NASDAQ:AVGO) last posted its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, beating the consensus estimate of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The firm had revenue of $4.47 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same period last year, the firm earned $2.89 EPS. The firm’s revenue was up 17.5% compared to the same quarter last year. On average, equities research analysts predict that Broadcom Limited will post $15.91 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 19th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Monday, September 18th. Broadcom Limited’s dividend payout ratio is currently 348.72%.
A number of institutional investors and hedge funds have recently bought and sold shares of AVGO. FNY Managed Accounts LLC acquired a new stake in Broadcom Limited in the 1st quarter valued at approximately $100,000. Mountain Capital Investment Advisors Inc acquired a new stake in Broadcom Limited in the 2nd quarter valued at approximately $113,000. Shine Investment Advisory Services Inc. acquired a new stake in Broadcom Limited in the 2nd quarter valued at approximately $116,000. Archford Capital Strategies LLC increased its position in Broadcom Limited by 45.4% in the 1st quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock valued at $118,000 after acquiring an additional 168 shares during the period. Finally, D. Scott Neal Inc. acquired a new stake in Broadcom Limited in the 2nd quarter valued at approximately $127,000. Hedge funds and other institutional investors own 89.65% of the company’s stock.
A number of brokerages recently commented on AVGO. Cowen and Company restated a “buy” rating and set a $260.00 target price on shares of Broadcom Limited in a report on Friday, August 11th. UBS AG restated a “buy” rating and set a $265.00 target price on shares of Broadcom Limited in a report on Monday, June 26th. B. Riley restated a “buy” rating and set a $305.00 target price on shares of Broadcom Limited in a report on Saturday, August 26th. Craig Hallum restated a “buy” rating on shares of Broadcom Limited in a report on Wednesday, September 13th. Finally, KeyCorp restated a “buy” rating and set a $290.00 target price on shares of Broadcom Limited in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Broadcom Limited has a consensus rating of “Buy” and a consensus target price of $277.22.
Broadcom Limited Company Profile
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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