Mark David Brazeal Sells 16,558 Shares of Broadcom (NASDAQ:AVGO) Stock

Key Points

• Mark David Brazeal sold 16,558 shares of Broadcom stock for $5,755,726.38, resulting in a 4.79% decrease in his ownership stake.
• Broadcom's stock has a current market cap of $1.63 trillion and reported quarterly revenue of $15.95 billion, which was up 22% from the previous year.
• The company announced a quarterly dividend of $0.59 payable on September 30th, reflecting an annualized yield of 0.7%.

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) insider Mark David Brazeal sold 16,558 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the transaction, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. This trade represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Mark David Brazeal also recently made the following trade(s):

• On Tuesday, September 16th, Mark David Brazeal sold 10,646 shares of Broadcom stock. The shares were sold at an average price of $360.38, for a total value of $3,836,605.48.
• On Monday, June 23rd, Mark David Brazeal sold 50,000 shares of Broadcom stock. The shares were sold at an average price of $253.28, for a total value of $12,664,000.00.

Broadcom Stock Down 0.1%

AVGO stock traded down $0.41 during midday trading on Friday, hitting $344.94. The company's stock had a trading volume of 41,147,297 shares, compared to its average volume of 27,762,164. The company has a market cap of $1.63 trillion, a PE ratio of 87.99, a P/E/G ratio of 1.91 and a beta of 1.16. Broadcom Inc. has a 12 month low of $138.10 and a 12 month 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 firm's 50-day moving average is $308.05 and its 200-day moving average is $247.72.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data 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 business had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm's quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. On average, equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company 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 dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's dividend payout ratio is presently 60.20%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Redburn Atlantic assumed coverage on Broadcom in a report on Wednesday, May 28th. They set a "buy" rating and a $301.00 price target on the stock. Wells Fargo & Company raised their target price on Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a report on Friday, September 5th. Evercore ISI reissued an "outperform" rating and set a $342.00 price target (up from $304.00) on shares of Broadcom in a report on Thursday, September 4th. Truist Financial raised their price target on Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a report on Friday, September 5th. Finally, Barclays raised their price target on Broadcom from $265.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine 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 an average rating of "Buy" and an average price target of $356.48.

Hedge Funds Weigh In On Broadcom

A number of large investors have recently made changes to their positions in AVGO. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Broadcom during the first quarter valued at $25,000. Cheviot Value Management LLC purchased a new stake in shares of Broadcom during the first quarter valued at $25,000. Inlight Wealth Management LLC purchased a new stake in shares of Broadcom during the first quarter valued at $26,000. Sawyer & Company Inc grew its holdings in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 36 shares during the last quarter. Finally, Longfellow Investment Management Co. LLC purchased a new stake in shares of Broadcom during the second quarter valued at $27,000. 76.43% of the stock is owned by institutional investors and hedge funds.

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.