Broadcom (NASDAQ:AVGO) Insider Charlie Kawwas Sells 1,928 Shares

Broadcom Inc. (NASDAQ:AVGO) insider Charlie Kawwas sold 1,928 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $327.80, for a total value of $631,998.40. Following the completion of the sale, the insider directly owned 23,582 shares of the company’s stock, valued at $7,730,179.60. This trade represents a 7.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Broadcom Trading Up 1.2%

Shares of AVGO opened at $329.88 on Friday. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $414.61. The firm has a market capitalization of $1.56 trillion, a P/E ratio of 69.30, a P/E/G ratio of 1.09 and a beta of 1.19. The firm has a 50-day moving average price of $362.66 and a 200 day moving average price of $320.02. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.08. The business had revenue of $18.02 billion during the quarter, compared to analysts’ expectations of $17.46 billion. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The business’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.42 EPS. Sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd will be given a $0.65 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, December 22nd. Broadcom’s dividend payout ratio (DPR) is presently 54.62%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AVGO shares. Raymond James Financial set a $420.00 price target on Broadcom and gave the stock an “outperform” rating in a report on Thursday, November 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Broadcom in a research note on Monday. Sanford C. Bernstein reissued an “outperform” rating and issued a $475.00 price target (up from $400.00) on shares of Broadcom in a research note on Friday, December 12th. Oppenheimer increased their price objective on shares of Broadcom from $435.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Finally, The Goldman Sachs Group set a $435.00 target price on shares of Broadcom and gave the company a “buy” rating in a report on Tuesday, November 25th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Broadcom currently has an average rating of “Buy” and an average target price of $435.96.

Institutional Trading of Broadcom

Hedge funds have recently modified their holdings of the stock. Assetmark Inc. increased its holdings in Broadcom by 2.4% in the second quarter. Assetmark Inc. now owns 1,703,487 shares of the semiconductor manufacturer’s stock valued at $469,566,000 after buying an additional 39,466 shares during the last quarter. Capital Counsel LLC NY acquired a new position in shares of Broadcom during the 2nd quarter worth about $221,000. Waterloo Capital L.P. increased its holdings in shares of Broadcom by 7.0% in the 2nd quarter. Waterloo Capital L.P. now owns 48,361 shares of the semiconductor manufacturer’s stock valued at $13,331,000 after acquiring an additional 3,180 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Broadcom by 27.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer’s stock worth $10,737,000 after acquiring an additional 13,978 shares in the last quarter. Finally, RiverFront Investment Group LLC lifted its stake in Broadcom by 107.6% during the second quarter. RiverFront Investment Group LLC now owns 16,524 shares of the semiconductor manufacturer’s stock worth $4,555,000 after purchasing an additional 8,566 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

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.