Broadcom (NASDAQ:AVGO) Director Purchases $706,799.00 in Stock

Key Points

• Broadcom's Director Harry You purchased 2,050 shares of the company's stock for approximately $706,799, increasing his position by 6.40% to a total of 34,102 shares valued at around $11.76 million.
• The company's shares rose by 9.8%, reaching $369.57 on a recent trading day, with significant trading volume of over 51 million shares.
• Broadcom declared a quarterly dividend of $0.59 per share, with a dividend yield of 0.6%, to be paid on September 30th to shareholders recorded by September 22nd.

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) Director Harry You bought 2,050 shares of Broadcom stock in a transaction dated Monday, September 8th. The stock was purchased at an average cost of $344.78 per share, for a total transaction of $706,799.00. Following the completion of the acquisition, the director directly owned 34,102 shares of the company's stock, valued at approximately $11,757,687.56. The trade was a 6.40% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Broadcom Trading Up 9.8%

Shares of NASDAQ:AVGO traded up $32.90 during trading hours on Wednesday, hitting $369.57. 51,004,415 shares of the company's stock traded hands, compared to its average volume of 22,956,638. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The firm has a market capitalization of $1.74 trillion, a P/E ratio of 94.28, a price-to-earnings-growth ratio of 1.86 and a beta of 1.16. The business has a fifty day moving average price of $296.92 and a 200-day moving average price of $239.85. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $372.97.

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

Broadcom Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.6%. Broadcom's payout ratio is 60.20%.

Institutional Trading of Broadcom

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sawyer & Company Inc increased its position in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after acquiring an additional 36 shares in the last quarter. Longfellow Investment Management Co. LLC bought a new position in shares of Broadcom in the second quarter valued at about $27,000. Legend Financial Advisors Inc. acquired a new stake in shares of Broadcom during the second quarter worth $28,000. Teachers Insurance & Annuity Association of America bought a new position in Broadcom during the second quarter worth about $28,000. Finally, LGT Financial Advisors LLC bought a new position in Broadcom during the second quarter worth about $31,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AVGO shares. Truist Financial boosted their price target on shares of Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Mizuho raised their price objective on shares of Broadcom from $320.00 to $355.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th. Morgan Stanley lifted their price target on shares of Broadcom from $338.00 to $357.00 and gave the company an "overweight" rating in a report on Tuesday, September 2nd. Redburn Atlantic began coverage on shares of Broadcom in a report on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 price objective on shares of Broadcom in a research note on Friday, June 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of "Buy" and an average price target of $351.92.

About Broadcom

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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