Broadcom Inc. (NASDAQ:AVGO - Get Free Report) Director Justine Page sold 800 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $274.30, for a total transaction of $219,440.00. Following the sale, the director directly owned 24,582 shares of the company's stock, valued at approximately $6,742,842.60. The trade was a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Justine Page also recently made the following trade(s):
- On Monday, July 14th, Justine Page sold 800 shares of Broadcom stock. The shares were sold at an average price of $274.30, for a total transaction of $219,440.00.
- On Monday, June 16th, Justine Page sold 800 shares of Broadcom stock. The stock was sold at an average price of $250.35, for a total transaction of $200,280.00.
- On Wednesday, May 14th, Justine Page sold 800 shares of Broadcom stock. The stock was sold at an average price of $230.19, for a total transaction of $184,152.00.
Broadcom Price Performance
NASDAQ AVGO traded down $0.13 during trading on Wednesday, hitting $280.81. 15,016,636 shares of the stock traded hands, compared to its average volume of 27,984,290. The company has a market capitalization of $1.32 trillion, a P/E ratio of 105.17, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The firm has a 50-day simple moving average of $249.82 and a 200-day simple moving average of $219.20. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $283.36.
Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The firm had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same period last year, the company earned $10.96 EPS. Broadcom's quarterly revenue was up 20.2% compared to the same quarter last year. As a group, analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.
Broadcom declared that its Board of Directors has initiated a share buyback plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.
Broadcom Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio (DPR) is presently 88.39%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in AVGO. Sawyer & Company Inc grew its stake in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 36 shares during the last quarter. PFS Partners LLC boosted its position in Broadcom by 38.4% during the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock worth $38,000 after purchasing an additional 38 shares in the last quarter. Waddell & Associates LLC raised its holdings in shares of Broadcom by 2.1% during the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock valued at $350,000 after acquiring an additional 43 shares during the last quarter. Luts & Greenleigh Group Inc. raised its holdings in shares of Broadcom by 1.3% during the second quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer's stock valued at $939,000 after acquiring an additional 44 shares during the last quarter. Finally, Challenger Wealth Management raised its holdings in shares of Broadcom by 1.3% during the first quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock valued at $587,000 after acquiring an additional 45 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the stock. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Morgan Stanley increased their price objective on shares of Broadcom from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Oppenheimer upped their target price on shares of Broadcom from $265.00 to $305.00 and gave the company an "outperform" rating in a research report on Tuesday. Bank of America lifted their price objective on shares of Broadcom from $240.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Finally, Redburn Atlantic assumed coverage on shares of Broadcom in a report on Wednesday, May 28th. They set a "buy" rating and a $301.00 target price on the stock. One investment analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $292.08.
Check Out Our Latest Stock Report on Broadcom
About Broadcom
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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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