Broadcom Inc. (NASDAQ:AVGO) Director Sells $245,968.00 in Stock

Key Points

• Broadcom Inc. Director Justine Page sold 800 shares at an average price of $307.46 for a total of $245,968, reducing her ownership by 3.25% to 23,782 shares.
• Broadcom's stock experienced a 1.6% decline, trading at $306.34, with a market capitalization of $1.44 trillion as of recent trading.
• The company recently announced a quarterly dividend of $0.59 per share, with a projected annualized payout of $2.36, yielding approximately 0.8%.

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) Director Justine Page sold 800 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $307.46, for a total value of $245,968.00. Following the transaction, the director owned 23,782 shares of the company's stock, valued at approximately $7,312,013.72. The trade was a 3.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 value of $219,440.00.
• On Monday, July 14th, Justine Page sold 800 shares of Broadcom stock. The stock was sold at an average price of $274.30, for a total value 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 value of $200,280.00.

Broadcom Stock Down 1.6%

NASDAQ:AVGO traded down $4.89 during mid-day trading on Friday, hitting $306.34. The company had a trading volume of 22,795,520 shares, compared to its average volume of 26,231,893. The business has a fifty day simple moving average of $277.08 and a 200-day simple moving average of $228.95. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a 1 year low of $134.90 and a 1 year high of $317.35. The firm has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 114.73, a PEG ratio of 2.20 and a beta of 1.15.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its 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 business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. During the same period in the previous year, the company earned $10.96 earnings per share. The company's revenue for the quarter was up 20.2% compared to the same quarter last year. Equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders 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 dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's payout ratio is presently 88.39%.

Institutional Trading of Broadcom

A number of hedge funds and other institutional investors have recently modified their holdings of AVGO. Brighton Jones LLC grew its stake in Broadcom by 21.8% in 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 in the last quarter. Revolve Wealth Partners LLC grew its stake in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after purchasing an additional 756 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in Broadcom by 16.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock worth $51,283,000 after purchasing an additional 31,225 shares in the last quarter. Highview Capital Management LLC DE boosted its stake in Broadcom by 1.3% in the fourth quarter. Highview Capital Management LLC DE now owns 25,522 shares of the semiconductor manufacturer's stock valued at $5,917,000 after acquiring an additional 322 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Broadcom in the fourth quarter valued at approximately $602,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Morgan Stanley set a $338.00 price objective on Broadcom and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research report on Friday, June 6th. Evercore ISI reaffirmed an "outperform" rating and set a $304.00 target price (up from $267.00) on shares of Broadcom in a research report on Friday, June 6th. Wells Fargo & Company upped their target price on Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a research report on Friday, June 6th. Finally, HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price on the stock in a research report on Tuesday, June 24th. Two equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Broadcom has a consensus rating of "Buy" and a consensus target price of $295.96.

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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