Henry Samueli Sells 473,898 Shares of Broadcom Inc. (NASDAQ:AVGO) Stock

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) Director Henry Samueli sold 473,898 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the transaction, the director now owns 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. This trade represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Broadcom Stock Down 0.3%

AVGO traded down $0.82 on Friday, hitting $269.35. The company had a trading volume of 27,024,322 shares, compared to its average volume of 29,077,848. The stock has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 100.88, a P/E/G ratio of 1.88 and a beta of 1.11. The stock has a fifty day moving average price of $227.46 and a 200-day moving average price of $214.61. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $273.09. 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 released its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The firm's revenue was up 20.2% compared to the same quarter last year. During the same period last year, the business posted $10.96 earnings per share. Analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom declared that its Board of Directors has authorized a share repurchase plan on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.88%. Broadcom's dividend payout ratio (DPR) is 88.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Morgan Stanley raised their price target on Broadcom from $260.00 to $270.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Barclays upped their target price on Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. Wall Street Zen downgraded shares of Broadcom from a "buy" rating to a "hold" rating in a research note on Sunday, June 15th. Susquehanna upped their price objective on shares of Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research note on Friday, June 6th. Finally, Hsbc Global Res upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Broadcom has an average rating of "Buy" and an average target price of $281.25.

Institutional Investors Weigh In On Broadcom

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Broadcom by 0.4% in the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock worth $79,900,968,000 after acquiring an additional 2,085,534 shares during the period. Geode Capital Management LLC lifted its holdings in Broadcom by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock valued at $23,647,209,000 after acquiring an additional 3,018,294 shares during the period. FMR LLC boosted its holdings in Broadcom by 3.2% during the fourth quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock worth $21,624,718,000 after buying an additional 2,873,809 shares in the last quarter. Norges Bank acquired a new stake in shares of Broadcom during the 4th quarter valued at about $16,893,010,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Broadcom by 37.8% in the first 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 during the period. Institutional investors and hedge funds 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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