Insider Selling: Broadcom Inc. (NASDAQ:AVGO) Director Sells 800 Shares of Stock

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) Director Justine Page sold 800 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total transaction of $184,152.00. Following the transaction, the director now directly owns 26,182 shares of the company's stock, valued at $6,026,834.58. This trade represents a 2.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Justine Page also recently made the following trade(s):

• On Monday, April 14th, Justine Page sold 800 shares of Broadcom stock. The stock was sold at an average price of $185.00, for a total value of $148,000.00.

Broadcom Stock Performance

Shares of Broadcom stock traded down $4.03 during trading on Friday, hitting $228.61. 22,996,350 shares of the company's stock were exchanged, compared to its average volume of 31,191,738. The stock has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 186.47, a PEG ratio of 2.29 and a beta of 1.04. The business has a 50-day simple moving average of $186.31 and a 200-day simple moving average of $198.91. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom declared that its Board of Directors has initiated a stock buyback plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.03%. Broadcom's payout ratio is currently 113.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Citigroup dropped their price target on Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Barclays decreased their price objective on Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. William Blair reiterated an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Finally, Bank of America cut their target price on Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $229.48.

Institutional Trading of Broadcom

Hedge funds have recently modified their holdings of the stock. Barnes Dennig Private Wealth Management LLC purchased a new stake in Broadcom during the first quarter worth $25,000. Cheviot Value Management LLC purchased a new position in Broadcom in the first quarter valued at $25,000. Canton Hathaway LLC acquired a new stake in shares of Broadcom during the 4th quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom in the 4th quarter valued at about $26,000. Finally, Inlight Wealth Management LLC acquired a new position in Broadcom in the 1st quarter worth about $26,000. 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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