Insider Selling: Broadcom (NASDAQ:AVGO) Director Sells $728,368.20 in Stock

Key Points

• Broadcom director Gayla Delly sold 1,890 shares on July 8 at an average price of $385.38, totaling about $728,368. The sale left her with 31,326 shares, a 5.69% reduction in her position.
• Broadcom recently reported strong quarterly results, with earnings of $2.44 per share topping estimates and revenue rising 47.9% year over year to $22.19 billion. Analysts still expect full-year EPS of 10.24.
• Wall Street remains broadly positive on AVGO, with a consensus “Moderate Buy” rating and a $493.24 price target. However, some recent commentary and a downgrade from Erste Group point to valuation concerns after the stock’s rally.

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) Director Gayla Delly sold 1,890 shares of the company's stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total transaction of $728,368.20. Following the transaction, the director owned 31,326 shares in the company, valued at approximately $12,072,413.88. This trade represents a 5.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Broadcom Price Performance

NASDAQ:AVGO traded down $1.14 during mid-day trading on Friday, reaching $399.97. 14,579,242 shares of the company were exchanged, compared to its average volume of 26,417,844. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.90 trillion, a PE ratio of 66.66, a PEG ratio of 0.68 and a beta of 1.45. Broadcom Inc. has a 12 month low of $269.58 and a 12 month high of $495.00. The company has a fifty day moving average of $405.40 and a 200 day moving average of $363.87.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same period in the previous year, the firm posted $1.58 earnings per share. The company's revenue was up 47.9% on a year-over-year basis. On average, research analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom's payout ratio is 43.33%.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock's latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club -- and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Institutional Investors Weigh In On Broadcom

A number of institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC increased its stake in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after purchasing an additional 756 shares during the period. United Bank boosted its position in shares of Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock worth $392,000 after purchasing an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Broadcom by 10.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock valued at $3,499,000 after buying an additional 1,160 shares during the period. Finally, Capital & Planning LLC grew its holdings in shares of Broadcom by 10.5% in the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock valued at $1,098,000 after buying an additional 378 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent research reports. Zacks Research lowered Broadcom from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Weiss Ratings cut Broadcom from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, June 26th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $515.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. Benchmark upped their target price on shares of Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a research report on Thursday, June 4th. Finally, Mizuho raised their target price on shares of Broadcom from $480.00 to $530.00 and gave the company an "outperform" rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Broadcom has a consensus rating of "Moderate Buy" and a consensus price target of $493.24.

About Broadcom

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company's semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom's portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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