Broadcom Inc. (NASDAQ:AVGO) Director Sells $200,280.00 in Stock

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) Director Justine Page sold 800 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $250.35, for a total transaction of $200,280.00. Following the completion of the sale, the director now owns 25,382 shares of the company's stock, valued at $6,354,383.70. This trade represents a 3.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Justine Page also recently made the following trade(s):

• On Wednesday, May 14th, Justine Page sold 800 shares of Broadcom stock. The shares were sold at an average price of $230.19, for a total transaction of $184,152.00.
• On Monday, April 14th, Justine Page sold 800 shares of Broadcom stock. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00.

Broadcom Price Performance

NASDAQ:AVGO traded down $1.27 during mid-day trading on Friday, reaching $249.99. The stock had a trading volume of 42,100,140 shares, compared to its average volume of 29,469,720. The stock has a 50-day simple moving average of $220.48 and a two-hundred day simple moving average of $212.46. The stock has a market capitalization of $1.18 trillion, a PE ratio of 93.63, a P/E/G ratio of 1.78 and a beta of 1.11. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $265.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The business had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The firm's quarterly revenue was up 20.2% compared to the same quarter last year. During the same period last year, the firm posted $10.96 earnings per share. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.94%. Broadcom's payout ratio is presently 88.39%.

Broadcom announced that its board has authorized a share repurchase program on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AVGO shares. Wall Street Zen downgraded shares of Broadcom from a "buy" rating to a "hold" rating in a research report on Sunday, June 15th. Benchmark raised their price objective on shares of Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Wells Fargo & Company raised their price objective on shares of Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a research report on Friday, June 6th. Finally, Mizuho raised their price objective on shares of Broadcom from $300.00 to $310.00 and gave the stock an "outperform" rating in a research report on Friday, June 6th. Three investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and an average target price of $276.09.

Institutional Trading of Broadcom

A number of hedge funds and other institutional investors have recently modified their holdings of AVGO. Tallon Kerry Patrick bought a new stake in shares of Broadcom during the fourth quarter worth $357,000. Capital & Planning LLC lifted its holdings in shares of Broadcom by 15.3% during the fourth quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer's stock worth $969,000 after purchasing an additional 554 shares during the period. LaFleur & Godfrey LLC lifted its holdings in shares of Broadcom by 18.7% during the fourth quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer's stock worth $18,145,000 after purchasing an additional 12,345 shares during the period. Brighton Jones LLC lifted its holdings in shares of Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after purchasing an additional 5,322 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Broadcom during the fourth quarter worth $71,312,000. 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.