Broadcom (NASDAQ:AVGO) CFO Kirsten Spears Sells 2,379 Shares

Broadcom Inc. (NASDAQ:AVGO) CFO Kirsten Spears sold 2,379 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $340.92, for a total value of $811,048.68. Following the sale, the chief financial officer owned 310,951 shares in the company, valued at approximately $106,009,414.92. The trade was a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Broadcom Stock Up 1.2%

AVGO stock opened at $329.88 on Friday. The stock has a 50-day simple moving average of $362.66 and a two-hundred day simple moving average of $320.02. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61. The firm has a market capitalization of $1.56 trillion, a PE ratio of 69.30, a PEG ratio of 1.09 and a beta of 1.19. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. The company had revenue of $18.02 billion during the quarter, compared to analyst estimates of $17.46 billion. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. Broadcom’s revenue was up 28.2% compared to the same quarter last year. During the same period last year, the business earned $1.42 earnings per share. On average, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be paid a dividend of $0.65 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, December 22nd. Broadcom’s dividend payout ratio is 54.62%.

Wall Street Analyst Weigh In

Several analysts have weighed in on AVGO shares. Mizuho raised their price target on Broadcom from $435.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Argus raised their target price on shares of Broadcom from $285.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, September 8th. Benchmark boosted their price target on shares of Broadcom from $385.00 to $485.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Weiss Ratings reissued a “buy (b-)” rating on shares of Broadcom in a report on Monday. Finally, Oppenheimer raised their price objective on shares of Broadcom from $435.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $435.96.

Hedge Funds Weigh In On Broadcom

A number of large investors have recently added to or reduced their stakes in the business. Arthur M. Cohen & Associates LLC lifted its position in shares of Broadcom by 0.6% during the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 4,781 shares of the semiconductor manufacturer’s stock valued at $1,577,000 after acquiring an additional 30 shares during the period. Jackson Hole Capital Partners LLC increased its stake in Broadcom by 1.4% in the 3rd quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer’s stock valued at $716,000 after purchasing an additional 30 shares in the last quarter. Private Wealth Partners LLC raised its position in shares of Broadcom by 0.7% in the third quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer’s stock valued at $1,410,000 after buying an additional 30 shares during the last quarter. Planning Alternatives Ltd. ADV lifted its stake in shares of Broadcom by 1.4% during the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer’s stock worth $715,000 after purchasing an additional 30 shares during the period. Finally, Bell Investment Advisors Inc lifted its position in Broadcom by 1.9% during the 3rd quarter. Bell Investment Advisors Inc now owns 1,638 shares of the semiconductor manufacturer’s stock worth $540,000 after acquiring an additional 30 shares in 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.