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 company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $250.35, for a total value of $200,280.00. Following the completion of the sale, the director now owns 25,382 shares in the company, valued at $6,354,383.70. The trade was a 3.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 value 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 value of $148,000.00.

Broadcom Price Performance

AVGO stock traded up $1.89 during midday trading on Wednesday, hitting $251.26. 29,099,658 shares of the stock were exchanged, compared to its average volume of 30,077,459. The stock's 50-day moving average price is $216.21 and its 200-day moving average price is $210.74. The stock has a market cap of $1.18 trillion, a price-to-earnings ratio of 94.10, a PEG ratio of 1.79 and a beta of 1.11. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $265.43. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $14.98 billion. During the same period in the previous year, the firm posted $10.96 earnings per share. Broadcom's revenue was up 20.2% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently disclosed 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. This represents a $2.36 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom's payout ratio is currently 88.39%.

Broadcom announced that its Board of Directors has approved a share repurchase plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Institutional Trading of Broadcom

A number of hedge funds have recently modified their holdings of the business. Canton Hathaway LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $26,000. Sunbeam Capital Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $28,000. Vermillion Wealth Management Inc. bought a new stake in Broadcom in the 4th quarter valued at $30,000. Finally, Sellwood Investment Partners LLC bought a new stake in Broadcom in the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AVGO shares. Benchmark increased their price target on Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Mizuho lifted their price target on Broadcom from $300.00 to $310.00 and gave the stock an "outperform" rating in a research note on Friday, June 6th. William Blair reaffirmed an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Susquehanna lifted their price target on Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research note on Friday, June 6th. Finally, Erste Group Bank raised Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. Three analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $276.09.

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.

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