Broadcom Inc. (NASDAQ:AVGO) Insider Charlie B. Kawwas Sells 5,000 Shares of Stock

Broadcom Inc. (NASDAQ:AVGO) insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Broadcom Stock Down 1.0 %

Shares of NASDAQ:AVGO opened at $1,318.73 on Thursday. The stock has a market cap of $611.13 billion, a price-to-earnings ratio of 48.88, a PEG ratio of 2.81 and a beta of 1.26. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. The business’s 50 day moving average is $1,267.55 and its 200 day moving average is $1,061.46.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter in the previous year, the firm earned $9.83 earnings per share. Broadcom’s quarterly revenue was up 34.2% on a year-over-year basis. On average, sell-side analysts forecast that Broadcom Inc. will post 36.8 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, March 21st will be given a $5.25 dividend. The ex-dividend date is Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.59%. Broadcom’s dividend payout ratio is currently 77.84%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AVGO. Barclays began coverage on Broadcom in a research report on Wednesday, March 20th. They set an “overweight” rating and a $1,405.00 price objective on the stock. Truist Financial raised their price objective on Broadcom from $995.00 to $1,015.00 and gave the company a “buy” rating in a research note on Friday, December 8th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. Finally, Citigroup reissued a “buy” rating and set a $1,100.00 price target on shares of Broadcom in a research note on Monday, December 11th. Three investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,230.18.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Broadcom during the 4th quarter valued at $6,225,987,000. Moneta Group Investment Advisors LLC raised its stake in shares of Broadcom by 122,794.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,667,161 shares of the semiconductor manufacturer’s stock valued at $2,050,420,000 after purchasing an additional 3,664,177 shares during the period. International Assets Investment Management LLC raised its stake in shares of Broadcom by 113,495.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock valued at $37,140,060,000 after purchasing an additional 3,324,288 shares during the period. Vanguard Group Inc. raised its stake in shares of Broadcom by 7.7% during the 4th quarter. Vanguard Group Inc. now owns 43,347,811 shares of the semiconductor manufacturer’s stock valued at $48,386,994,000 after purchasing an additional 3,089,798 shares during the period. Finally, Providence Capital Advisors LLC increased its stake in Broadcom by 49,919.1% in the 1st quarter. Providence Capital Advisors LLC now owns 2,437,432 shares of the semiconductor manufacturer’s stock worth $3,799,000 after acquiring an additional 2,432,559 shares during the last quarter. 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.