Broadcom (NASDAQ:AVGO) CFO Kirsten Spears Sells 7,498 Shares

Key Points

• Kirsten Spears, CFO of Broadcom, sold 7,498 shares at an average price of $347.66, totaling approximately $2.61 million, reducing her ownership by 2.34%.
• Broadcom reported $1.69 EPS and $15.95 billion revenue for the last quarter, exceeding analyst expectations and marking a 22% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.59 per share, set to be paid on September 30th, with a current dividend yield of 0.7%.

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) CFO Kirsten Spears sold 7,498 shares of the company's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total value of $2,606,754.68. Following the completion of the sale, the chief financial officer owned 313,330 shares in the company, valued at $108,932,307.80. This represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Broadcom Price Performance

AVGO stock traded down $0.82 during trading on Thursday, hitting $345.35. The stock had a trading volume of 24,609,775 shares, compared to its average volume of 27,276,284. The stock has a market cap of $1.63 trillion, a price-to-earnings ratio of 88.10, a price-to-earnings-growth ratio of 1.91 and a beta of 1.16. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The company's 50 day moving average price is $306.64 and its two-hundred day moving average price is $246.25. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm's revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period last year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's payout ratio is presently 60.20%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. TD Cowen increased their price target on Broadcom from $355.00 to $370.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. Oppenheimer reissued an "outperform" rating and issued a $360.00 price target (up from $325.00) on shares of Broadcom in a research note on Friday, September 5th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $340.00 price objective on shares of Broadcom in a research note on Wednesday, August 13th. Finally, Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Broadcom has an average rating of "Buy" and an average price target of $356.48.

Institutional Trading of Broadcom

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Broadcom by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer's stock worth $133,261,046,000 after acquiring an additional 6,222,802 shares in the last quarter. State Street Corp raised its stake in shares of Broadcom by 0.5% during the second quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer's stock valued at $51,071,601,000 after purchasing an additional 873,963 shares during the period. Geode Capital Management LLC lifted its position in shares of Broadcom by 2.1% during the second quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer's stock worth $29,827,649,000 after purchasing an additional 2,226,585 shares in the last quarter. Norges Bank purchased a new position in shares of Broadcom in the second quarter valued at $18,579,549,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Broadcom by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after purchasing an additional 17,985,046 shares in the last quarter. Hedge funds and other 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.

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