Mark David Brazeal Sells 3,327 Shares of Broadcom (NASDAQ:AVGO) Stock

Key Points

• Broadcom insider selling: Mark David Brazeal sold 3,327 Broadcom shares at an average price of $381.87, totaling about $1.27 million. The sale reduced his ownership by 1.20% and was disclosed in an SEC filing.
• Stock and earnings remain strong: Broadcom shares rose 4.7% to $411.35, and the company recently beat quarterly EPS and revenue estimates with 47.9% year-over-year revenue growth. Analysts still expect Broadcom to post 10.24 EPS for the current year.
• Positive outlook continues: Broadcom announced a quarterly dividend of $0.65 per share and has attracted bullish analyst commentary, including multiple raised price targets. The article also highlights strong interest in its AI chip pipeline and a recent increase in its debt tender offer to $3 billion.

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) insider Mark David Brazeal sold 3,327 shares of the company's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $381.87, for a total transaction of $1,270,481.49. Following the sale, the insider owned 274,814 shares in the company, valued at $104,943,222.18. This represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, June 17th, Mark David Brazeal sold 4,825 shares of Broadcom stock. The shares were sold at an average price of $394.91, for a total transaction of $1,905,440.75.

Broadcom Trading Up 4.7%

AVGO traded up $18.45 on Thursday, hitting $411.35. The company had a trading volume of 44,996,695 shares, compared to its average volume of 26,381,672. The business's fifty day simple moving average is $408.66 and its 200 day simple moving average is $363.11. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 12-month low of $244.17 and a 12-month high of $495.00. The company has a market cap of $1.96 trillion, a PE ratio of 68.56, a PEG ratio of 0.66 and a beta of 1.41.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.04. The business had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company's quarterly revenue was up 47.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.58 earnings per share. Equities research analysts expect that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, June 22nd. Broadcom's dividend payout ratio is presently 43.33%.

Analyst Ratings Changes

Several research firms have commented on AVGO. Truist Financial lifted their price objective on shares of Broadcom from $545.00 to $550.00 and gave the stock a "buy" rating in a research note on Thursday, June 4th. Mizuho increased 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. Zacks Research lowered shares of Broadcom from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Friday, June 5th. Finally, Jefferies Financial Group set a $550.00 price target on shares of Broadcom and gave the company a "buy" rating in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $490.13.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom expanded its cash tender offer to $3 billion from $2.5 billion after strong investor interest, a move that signals confidence in its balance sheet and can reduce future interest expense. Article: Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan reiterated a bullish view, saying investors should be “aggressive buyers” of Broadcom and arguing the market underestimates the company’s long-term AI opportunity, which has helped support the stock. Article: AVGO stock jumps — JPMorgan says investors should be 'aggressive buyers' of Broadcom at current levels
• Positive Sentiment: Analyst commentary continues to highlight Broadcom’s AI chip pipeline and multi-year growth outlook, reinforcing investor enthusiasm for its custom silicon business. Article: Broadcom's Massive AI Pipeline Secures Multi-Year Growth, Analyst Says
• Neutral Sentiment: Broadcom’s recent earnings and outlook remain a backdrop for the move, with the company having recently beaten EPS and revenue estimates and posted strong year-over-year growth, but investors are still weighing high expectations and valuation.

Hedge Funds Weigh In On Broadcom

Several hedge funds have recently bought and sold shares of AVGO. Norges Bank purchased a new stake in shares of Broadcom during the fourth quarter valued at $24,252,196,000. Cardano Risk Management B.V. increased its stake in Broadcom by 895.2% in the 4th quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer's stock worth $4,391,940,000 after buying an additional 11,414,701 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Broadcom by 118.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 18,739,006 shares of the semiconductor manufacturer's stock worth $5,799,889,000 after buying an additional 10,145,377 shares during the period. State Street Corp lifted its holdings in Broadcom by 2.7% during the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock valued at $65,788,194,000 after buying an additional 5,040,801 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Broadcom by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock valued at $167,064,997,000 after buying an additional 3,919,715 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Company Profile

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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