Broadcom (NASDAQ:AVGO) Insider Charlie B. Kawwas Sells 2,504 Shares

Key Points

• Charlie Kawwas, an insider at Broadcom, sold 2,504 shares of the company for a total of $902,416.56, reducing their ownership by 7.9% to 29,188 shares.
• Broadcom recently reported earnings of $1.69 per share, exceeding analysts' expectations, with a revenue of $15.95 billion for the quarter, reflecting a year-over-year growth of 22%.
• The company declared a quarterly dividend of $0.59 per share, with the ex-dividend date set for September 22nd, reflecting an annual yield of 0.7%.

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) insider Charlie B. Kawwas sold 2,504 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $360.39, for a total value of $902,416.56. Following the sale, the insider directly owned 29,188 shares of the company's stock, valued at $10,519,063.32. This represents a 7.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Broadcom Trading Down 0.1%

Shares of AVGO stock traded down $0.41 on Friday, reaching $344.94. 41,147,297 shares of the company's stock were exchanged, compared to its average volume of 27,762,164. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $374.23. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $1.63 trillion, a PE ratio of 87.99, a P/E/G ratio of 1.91 and a beta of 1.16. The company's fifty day simple moving average is $308.05 and its 200 day simple moving average is $247.72.

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

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be issued a $0.59 dividend. The ex-dividend date is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's dividend payout ratio (DPR) is currently 60.20%.

Hedge Funds Weigh In On Broadcom

A number of hedge funds have recently made changes to their positions in the company. Sawyer & Company Inc grew its position in shares of Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 36 shares in the last quarter. Longfellow Investment Management Co. LLC purchased a new stake in shares of Broadcom in the second quarter valued at approximately $27,000. Legend Financial Advisors Inc. purchased a new stake in shares of Broadcom in the second quarter valued at approximately $28,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Broadcom in the second quarter valued at approximately $28,000. Finally, LGT Financial Advisors LLC purchased a new stake in shares of Broadcom in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AVGO. Wells Fargo & Company lifted their price target on Broadcom from $255.00 to $345.00 and gave the company an "equal weight" rating in a report on Friday, September 5th. Wall Street Zen upgraded Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, September 6th. Deutsche Bank Aktiengesellschaft boosted their target price on Broadcom from $300.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Citigroup boosted their target price on Broadcom from $315.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Finally, Sanford C. Bernstein boosted their target price on Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $356.48.

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.